Pakistan’s position: Investors following performance, says Dar

Finance minister highlights country’s economic growth in London gathering.

ISLAMABAD: Finance Minister Ishaq Dar said Pakistan is swiftly moving towards economic stability and is planning to issue sukuk in international markets in 2015-16.

Addressing a gathering of Pakistan businessmen at the Pakistan High Commission in London, Dar highlighted the improved stable outlook in the country’s ratings and also shared the government’s vision of the roadmap for continued economic prosperity and efforts to overcome challenges.

Dar said that several international financial institutions have shown interest in Pakistan’s positive outlook. “Investors have shown a keen interest in the economic performance of the country,” informed the minister.

Representatives from top financial companies in London called on the minister and he thanked them for their interest in Pakistan, adding that the country would continue its presence in the international market in the next fiscal year.

He further said that the response Pakistan received in the London financial market had surpassed all expectations and hence, London remains very relevant for the Pakistan capital markets. The minister underscored some of the major economic achievements of the government, notably mentioning the GDP growth rate that has exceeded 4% after a period of six years, in addition to the lower inflation rate at 2.5%.

In addition, he said the government has substantially decreased its dependence on borrowing from domestic banks making the capital available for private sector.

“Stock and foreign exchange markets are also doing well; Pakistani currency has been recently reported as one of the best performing currencies in the world by Bloomberg; and Moody’s has just upgraded Pakistan’s economic outlook from stable to positive.” Published in The Express Tribune, April 17^th, 2015.