Credit rating: ‘China-based agency a welcome change’
Dar assured Chairman UCRG that Pakistan would like to benefit from its expertise and services.
ISLAMABAD:
Federal Minister for Finance, Ishaq Dar, said on Tuesday that there was a need for a new international rating agency, and the Universal Credit Rating Group (UCRG) is a welcome addition. A delegation of led by Chairman UCRG, Zhanjian Guan, including CEO of UCRG Richard Hainsworth, called on the Finance Minister here. Talking to the delegation the minister said that he was confident that UCRG would maintain the highest professional standards and earn its rightful place in the international financial market. Senator Ishaq Dar assured Chairman UCRG that Pakistan would like to benefit from its expertise and services as it has an ambitious plan to launch infrastructure, power and mega projects in the near future. He said a rating company like UCRG which is based in China, a great friend of Pakistan, is good news not only for the Pakistan but also for other emerging economies in the region.
Published in The Express Tribune, August 28th, 2013.
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I hope India and other Asian nations including Pakistan start giving more importance to the new Chinese-led rating agencies.