Elimination of terrorism will make Pakistan appropriate for business: Moody’s

Following the declaration of Moody’s and Standard & Poor’s sovereign ratings on Pakistan, Fitch Ratings has recently shown its interest in sovereign ratings on Pakistan and requested for discussions with the Finance Ministry during World Bank and IMF Meetings.

Federal Finance Minister Ishaq Dar held separate meeting with the representatives of Moody’s, S & P and Fitch Rating agencies in Washington.

According to the representatives of world rating agencies power sector of Pakistan has incredible potential adding that investment can only be done once terrorism and extremism eliminated.

The Finance Minister informed that issuance of Islamic Bonds and divestment of OGDC shares will be done within few weeks.

He said that the fourth and fifth review of the IMF would be combined together while government will be completing these two delayed transactions in the coming weeks successfully.

The Finance Minister highlighted the decrease in the fiscal and trade deficits and significant increase in GDP i.e 4 per cent after a gap of six years. He expressed his resolve to raise the Foreign Exchange Reserves to $15 billion by the end of this year.