Finance Minister Muhammad Aurangzeb has highlighted Pakistan’s upgraded sovereign credit rating by Fitch as a testament to the government’s dedicated efforts toward achieving macroeconomic stability in recent months. Addressing the media in Islamabad, Aurangzeb emphasized that the Fitch rating reflects the positive strides made in the country’s economic landscape.
Aurangzeb credited the recent upgrade to the proactive measures taken by the government, particularly the successful tabling of the Staff Level Agreement with the International Monetary Fund (IMF). This pivotal move, he noted, played a crucial role in securing the improved rating from Fitch.
“The macroeconomic indicators of our country are showing positive trends, indicating that we are on the right path,” said Aurangzeb. He pointed out that the declining policy rates are a significant boon for the industry, fostering an environment conducive to growth and investment. The Minister expressed confidence that the policy rate will continue to decrease in tandem with the ongoing reduction in the inflation rate, which has dropped to 12 percent from a high of 38 percent.
Aurangzeb’s optimism extends to the future, as he anticipates that these favorable developments will further solidify Pakistan’s economic foundation. He stressed that the Fitch rating upgrade is not merely a numerical improvement but a reflection of the substantial progress made in stabilizing the economy.
The Finance Minister reiterated the government’s commitment to maintaining this positive trajectory, ensuring that the benefits of economic reforms are felt across all sectors of society. He underscored the importance of continued vigilance and strategic planning to sustain and build upon the gains achieved thus far.
In conclusion, Aurangzeb hailed the Fitch rating upgrade as a significant milestone that underscores the effectiveness of the government’s economic policies. He assured the nation that the government remains steadfast in its resolve to drive economic growth and stability, paving the way for a prosperous future for Pakistan.
