Pakistan achieves macroeconomic stability as result of prudent policies of govt
Islamabad: Prime Minister Muhammad Nawaz Sharif has said Pakistan-China “all weather” relationship is based upon shared principles and interests that form the foundation of cooperation in diverse fields.
Chairman Board of Directors Bank of China Tian Guoli called on prime minister here on Wednesday.
He said Pakistan and China have a shared future. Talking about China Pakistan Economic Corridor (CPEC), Nawaz said the project is the largest comprehensive project with any foreign country. “CPEC is a fusion of multiple development projects, aimed at the prosperity and well-being of the citizens of the country and the region at large.”
The Prime Minister said that Pakistan has a vibrant banking system that has achieved high level of profitability, improved liquidity and strong solvency position. He said sound capital base, remarkable growth in assets and profitability and compliance with international standards poised Pakistan’s banking sector in a very competitive position in the region for investors.
He said besides Foreign Direct Investment, the interest of international investors in the banking sector is also evident from the portfolio investment observed in the recent divestment transactions of UBL, ABL and HBL.
Tian Guoli lauded the vision of the Prime Minister for putting the country on development path and turning around the economy. Prime Minister Nawaz Sharif has said Pakistan has achieved macroeconomic stability due to prudent economic policies of the present government.
He was talking to Chairman Talal Abu-Ghazaleh Organization Talal Abu-Ghazaleh in Islamabad on Wednesday.
He said GDP growth has averaged more than 4 percent per annum in the period and reached four point seven one percent in the last year which is the highest in eight years. He said foreign exchange reserves have exceeded 24 billion dollars. Pakistan’s investment profile has been upgraded by all leading rating agencies on account of successful economic reforms and improved security situation.
Nawaz Sharif said our vision is ‘Accelerated Digitization Ecosystem’ with special emphasis on ‘Bridging Broadband Divide’ to spur socio-economic growth across the length and breadth of the country for expanding the knowledge based economy.
The Prime Minister said that Pakistan has a flourishing broadband internet community comprising of over 31 million users and has surpassed the growth rate of broadband users from various countries in the region.
Dr.Talal Abu-Ghazaleh expressed his desire of not only investing in Pakistan’s IT market as well as other diverse professional sectors including accountancy and ICT.