ISLAMABAD: Prime Minister Imran Khan on Tuesday expressed satisfaction over the economic team’s performance during a federal cabinet meeting.
The prime minister was briefed on the improving economic situation of the country. “The economic team has turned around the economic condition of Pakistan,” he was quoted as saying. “I am very satisfied with their performance.”
The prime minister was also quoted as saying that people would hear good news on the economic front very soon. He urged members of the federal cabinet to highlight the positive points of the Moody’s report so the general public would know about it.
The federal cabinet was also briefed on the appointments of the Election Commission of Pakistan (ECP) members and its members.
The federal cabinet also gave its approval for the appointment of WAPDA personnel.
The cabinet further gave approval for the establishment of special courts for minors.
The credit rating agency, Moody’s Investors Services, on Monday, revised upwards Pakistan’s outlook from ‘Negative’ to ‘Stable’.
Moody’s announced bumping Pakistan’s outlook rating in a report released Monday, affirming a B3 rating for the country and confirming that the economy’s future looks stable as opposed to negative earlier.
The credit rating agency said it had positively revised the outlook in light of further improvement in Pakistan’s balance of payments. Although the foreign exchange reserves were still low and that it would take time for the figure to boost, it said the policy adjustment and free floating — or flexible — exchange rate would help enhance the balance of payments.