Economy showing signs of improvement due to sincere efforts of incumbent govt: Muhammad Aurangzeb
Says int’l financial institutions shown trust in country’s ability to handle economic crisis
ISLAMABAD ( WEB NEWS )
Federal Minister for Finance Muhammad Aurangzeb has said the economy has been showing signs of improvement due to the sincere efforts of the incumbent government.
Addressing a press conference in the capital on Sunday, the finance minister said inflation had come at the single digit – seven percent – from 38 percent as the PM himself had been spearheading the efforts in this regard.
He said the government’s prudent economic policies have resulted in a reduction of inflation from 38 percent to just seven percent and the policy rate from 22 percent to 15 percent, while foreign exchange reserves have surged from two weeks of import cover to 2.5 months of import cover.
The finance minister said the international financial institutions had shown trust in the country’s ability to handle the economic crisis.
He mentioned that the IMF staff was also astonished at the success of the Pakistan’s economy – which became stable in just 14 months adding the board was well aware of the government’s ability to steer the country out of crisis.
The minister highlighted the cooperation by the chief ministers of four provinces adding that the government could achieve the best possible outcome by working as a whole.
As for the private sector, he said all the segments of society have to come at the forefront to create the best possible opportunities.
Lastly, he also mentioned the climate change phenomenon which has been taking a heavy toll on the country.
“It is not only the charter of economy but also the charter of environment,” he said.