PM Shehbaz Sharif Lauds Moody’s Rating Upgrade
Prime Minister Shehbaz Sharif expressed his delight over the recent upgrade of Pakistan’s credit rating by Moody’s, during a review meeting in Islamabad. The PM credited the government’s economic policies for preventing the country from default and leading it towards growth.
He emphasized the importance of timely implementation of investment projects and highlighted the vast potential for foreign investment in sectors like IT, agriculture, and energy, which would not only boost exports but also create job opportunities for the youth.
The meeting also discussed progress on projects under CPEC and the need for transparent and efficient implementation of all projects. Earlier in the day, Moody’s had upgraded Pakistan’s long-term issuer rating to ‘Caa2’ with a stable outlook, citing improved macroeconomic conditions.
With a positive outlook now, Pakistan’s default risk has been significantly reduced, signaling positive prospects for the country’s economic growth.