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ISLAMABAD, Mar 12 (APP):Advisor to the Finance Minister Khurram Shahzad Wednesday welcomed a major development on the banking front, as Moody’ s, a global rating agency, improved Pakistan’s banking outlook from stable to positive, boosting investor confidence and macroeconomic stability.
Speaking exclusively to a private news channel, Advisor Finance said the positive outlook from Moody’ s is a vote of confidence in Pakistan’s economic management and a clear signal to investors that the country is a viable investment destination.
The banking ranking upgrade is a true indicator of Pakistan’s microeconomics stability, he added.
“The upgrade in banking ranking is a clear indication that Pakistan’s economy is on the right track and we are confident that this will attract more foreign investment,” he added.
“Pakistan’s foreign exchange reserves are now at a comfortable level, which is a reflection of our stable economy and a major draw for investors,” he mentioned.
Responding a query, he said, “We will continue to build on our efforts and hopefully, this will have a long-term, trickle-down impact, benefiting not just the top tier but also the common man, by creating employment opportunities and stability.”
“We will strive to sustain and further stabilize our economic gains, which will in turn, drive continued improvement and growth,” he concluded.