Pakistan’s foreign exchange reserves at all-time high: PM Nawaz
Pakistan Stock Exchange among the world’s ten best-performing stock exchanges: PM Nawaz Sharif
Published September 08, 2016
KARACHI: Prime Minister Nawaz Sharif said Pakistan’s foreign exchange reserves were at record high and the Pakistan Stock Exchange (PSX) was among the world’s ten best-performing stock exchanges, during a visit to PSX on Thursday.
Addressing an award ceremony at PSX earlier today, PM Nawaz Sharif said loadshedding would be eliminated from the country by 2018. He said several power projects were underway in Port Qasim, Hub, Thar and other areas which would help the country to overcome its energy shortages.
The premier said the goal of the government was to make electricity cheap for the masses. He added that industries were now being provided uninterrupted electricity and gas supply.
Discussing the government’s strategy to privatise institutions, PM Nawaz Sharif said the move had improved performance and boosted employment levels at denationalised institutions. He added that the government was also working to make PIA one of the best airlines in the world.
The prime minister said that Karachi to Peshawar motorway was definitely going to be completed, adding that construction was underway of Sukkur to Multan and Karachi to Lahore motorways. He said Karachi to Hyderabad motorway would be completed by next year.
He said that the government was considering offering increased incentives to boost exports. He added that the China-Pakistan Economic Corridor’s (CPEC) Special Economic Zone would provide an optimised environment to exporters throughout the country.
Earlier today Finance Minister Ishaq Dar, addressing the ceremony, said that Pakistan economy would grow by 7% in the next two years. He added that the country’s GDP had climbed to 4.7%.
Ishaq Dar said that credit rating agencies worldwide were declaring Pakistan a stable economy on a macroeconomic level, adding that stern decisions were behind the improved performance of the PSX and Pakistan economy.
“The boost in PSX is directly linked to the improved economy of Pakistan,” the finance minister said.
