| GEO Business|
| Pakistan in dire need of foreign investment: IMF|
| Updated at: 1331 PST, Friday, September 05, 2008|
ISLAMABAD: Pakistan is in dire need of foreign investment to bring stability into its tumbling economy.
IMF’s Director to Central Asia and Middle East, Mohsin Khan urged on Pakistan to take immediate measures for strengthening its foreign exchange reserves which were constantly sliding down.
He said Pakistani government was devising a policy in this regard and several steps including increase in interest rate, change in rupee value, cutting of expenditure and other measures were included.
Khan further said: “IMF hasn’t received any formal request form Pakistan.”