Prime Minister Shehbaz Sharif on Monday congratulated the nation on Moody’s decision to upgrade Pakistan’s sovereign credit rating from Caa1 to B3, calling it a reflection of growing international confidence in the government’s economic policies and reforms.
The prime minister welcomed the rating improvement and appreciated the efforts of the government’s economic team in stabilising the economy and strengthening the external sector.
He particularly praised Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir, Finance Minister Muhammad Aurangzeb and other relevant ministers and officials for their role in the process.
“The improvement in Pakistan’s credit rating reflects global confidence in the government’s economic policies and reforms,” the prime minister said.
Shehbaz said recognition of Pakistan’s improving economic situation by international financial institutions and rating agencies was encouraging.
He said the economy was moving towards stability and that improved assessments by international institutions were evidence of the progress being made.
The prime minister said the government had taken effective measures to stabilise the economy and improve the external sector, adding that sustained reform efforts had helped strengthen international confidence in Pakistan.
He said the government would further accelerate the reform process to put the economy on sustainable foundations.
“Our goal is to make Pakistan a strong, self-sufficient and sustainable economy,” Shehbaz said.
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