Economic revival: Caretaker govt last hope for businesses

The rupee is showing signs of stability against the dollar despite repayments to the IMF.

ISLAMABAD: The business community is pinning high hopes on the caretaker government and the Election Commission of Pakistan (ECP) whose decisions are resulting in stability.

The rupee is showing signs of stability against the dollar despite repayments to the International Monetary Fund (IMF) which has not only amazed many analysts but also renewed hopes among business community, said Mian Shahid, Chief Executive of the Saudi Pak Insurance Company.

Speaking at Fikr-e-Farda Forum, he said that apart from the government and ECP, some steps by the central bank have discouraged speculations, which has contributed to the stability of.

Shahid said that the government should try to initiate a dialogue with the IMF to get a loan reschedule or another Standby Credit Facility to ward off the looming economic threat and pull the economy to revive GDP growth.

Published in The Express Tribune, April 2^nd, 2013.

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