FinMin hails Fitch rating upgrade as sign of economic growth

Islamabad: Finance Minister Muhammad Aurangzeb on Monday said that Pakistan's upgraded sovereign credit rating under Fitch's recent report is the reflection of their efforts to achieve macroeconomic stability during last couple of months.

Addressing media in Islamabad, he said the process of tabling the Staff Level Agreement with IMF played a crucial role in achieving this up gradation.

The Minister said all macro factors of country's economy are looking positive which shows we are heading in the right direction.

Muhammad Aurangzeb said the policy rates are coming down that is a positive news for the industry. He expressed hope that the policy rate will decrease further with the reduction in inflation rate that has shrunk to 12 percent from 38 percent.

He also expressed optimism that these positive development will strengthen the economy in future.