Trade: (Stock market reflects confidence of investors in govt)July 4, 2015
ISLAMABAD: Chairman of the United International Group Mian Shahid on Sunday said that Prime Minister Nawaz Sharif and Chief Minister Shahbaz Sharif are making history of development and prosperity in Pakistan.
He said stock market reflects confidence of investors in the policies of the incumbent government, adding that resolve of political and army leadership is to push growth rate beyond projections.
He said this while talking to Samina Fazil, founder President, Islamabad Women’s Chamber of Commerce and Industry. He said stock market improved by 16 percent in last one year but now it has become one of the top ten markets in the world.
The policies of the government has improved trade, commerce, investment, construction and other sectors while infrastructure development has taken front seat in the latest budget. He said IMF has projected growth rate at 4.5 percent in the ongoing fiscal while will go beyond it due to the revolutionary policies and tough decisions.
The veteran business leader said that IMF is satisfied with Pakistan’s progress, two international credit rating agencies have revised country’s rating upward while investors are getting cheap loans due to interest rate which is lowest in last 42 years.
He said the forex reserves have crossed mark of 18 billion dollars, development of Thar coal reserves is satisfactory while government is also focusing on uplift of rural economy. The Chinese investment worth 46 billion dollars will pave way for national development while Beijing has again prove to be the best friend.