Facing challenges: ‘Govt making economic turnaround’
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ISLAMABAD:
Prime Minister Nawaz Sharif despite enduring six months of street protests, weak economy and law and order situation, has managed to start turning around the country’s economy, according to a report carried by Bloomberg. “Lower oil prices, higher remittances and increased consumer spending are pushing growth towards a seven-year high,” the report said. Bloomberg, that gives independent opinions on financial, political and economic issues, mentioned that despite challenges, the “Corporate earnings are soaring, stocks have surged and the currency is among the world’s top performers.” The article stresses while, much more needs to be done to fix an economy dependent on financing from the IMF, the perception of Pakistan is starting to change. “Nawaz’s government has improved things with the help of the IMF,” Sayem Ali, head of investments strategy and advisory at Standard Chartered Plc’s Karachi unit, said by phone.
Published in The Express Tribune, March 20th, 2015.
Prime Minister Nawaz Sharif despite enduring six months of street protests, weak economy and law and order situation, has managed to start turning around the country’s economy, according to a report carried by Bloomberg. “Lower oil prices, higher remittances and increased consumer spending are pushing growth towards a seven-year high,” the report said. Bloomberg, that gives independent opinions on financial, political and economic issues, mentioned that despite challenges, the “Corporate earnings are soaring, stocks have surged and the currency is among the world’s top performers.” The article stresses while, much more needs to be done to fix an economy dependent on financing from the IMF, the perception of Pakistan is starting to change. “Nawaz’s government has improved things with the help of the IMF,” Sayem Ali, head of investments strategy and advisory at Standard Chartered Plc’s Karachi unit, said by phone.
Published in The Express Tribune, March 20th, 2015.