Foreign investment boom reflects confidence in government’s policies: PM

ISLAMABAD – Prime Minister Muhammad Shehbaz Sharif has said that country’s economy is on path to stability due to steps taken by the government and the stock market is showing brisk business.

He expressed these views during a briefing from the Finance Ministry regarding country’s economy and the meeting with the IMF delegation on Monday.

The prime minister said that boom in foreign investment was a reflection of confidence in the government’s policies. He stressed that public relief should be accorded priority on all other steps and they were taking all possible measures to fulfill public promises.

He also expressed satisfaction over the sliding down of the inflation rate to 7 percent from 38 percent, saying that the interest rate was lowered from 22 percent to 15 percent which would spur business activities and create jobs opportunities in the country.

Prime Minister Shehbaz Sharif further observed that due to surge in exports and record remittances, the country’s foreign reserves had increased. He also praised the Punjab chief minister for introducing reforms in the agriculture sector.

The prime minister directed for accelerating actions against tax defaulters, and reiterated to bring the tax evaders and their facilitators to book. “The country’s economy can progress well when all the stakeholders will fulfill their responsibilities. All sectors should pay taxes to play their role in the national progress,” said the prime minister.

The meeting was attended by ministers including Muhammad Aurangzeb, Ahad Khan Cheema, Attaullah Tarar, Dr Mussadik Malik, Ali Pervaiz Malik, PM’s coordinator Rana Ahsan Afzal and relevant senior officials.