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ISLAMABAD, Apr 15 (APP):Federal Minister for Finance and Revenue , Muhammad Aurangzeb on Tuesday said that international rating agency ‘Fitch Ratings’ has upgraded Pakistan’s economic rating due to our sustainable ‘Macroeconomic Stability.’
The ‘Fitch Ratings’ has upgraded the Pakistani economic ratings to ‘B -‘ from ‘CCC+’, which is a very promising outlook and “our major economic target of sustainable and inclusive economic growth” Federal Minister for Finance and Revenue , Muhammad Aurangzeb said this while in live media statement on Pakistan Television.
The Minister said that Pakistan’s all economic indicators are going positive, currently inflation is down in the country and thus there has been a clear reduction in the price of electricity for domestic and industrial consumers recently announced by the government.
He said that in the last month of March 2025, the country’s foreign remittance was recorded high at $4.1 billion, which is likely to go up to a record $38 billion by the end of this year FY 2024-25.
Aurangzeb said that ‘Fitch Rating’ has given better ratings to the country’s economy than 2022-24, which is an expression of confidence in our economic reforms and economic discipline and this, has increased the confidence of international institutions in the country’s economy.
The minister said that under the dynamic leadership of Prime Minister, Muhammad Shehbaz Sharif, the country’s economy is currently moving in the best direction, which requires continuity so that the country’s economy can be sustainable and inclusive.
He said that because of the structural reforms of the current government and the mutual cooperation of all institutions, the country’s economy has achieved ‘Macroeconomic Stability’ and now this stability has to be taken towards economic growth for which the current government is working on the policy line.
The Finance Minister said that ‘Macroeconomic Stability’ was achieved in the past too but it was not sustainable and now “we have to get out of the Boom and Bust Cycle.”
He said that the current government has achieved many successes in the economic sphere and the successful holding of the recently held International Mineral Conference is a great success of the government.
Similarly, holding overseas conferences is also a good step which has increased the confidence of overseas Pakistanis in the country’s economy.