The United States continues testing its missile defense systems and producing missiles which are prohibited by the Intermediate-Range Nuclear Forces Treaty aimed at limiting strategic weapons, said a Russian military official.In an interview with Krasn...
Read More »BA approves demands for grants
The Balochistan Assembly today approved demands for grants, which were presented by Leader of the House, Mir Abdul Quddus Bizenjo.Source: Radio PakistanZczcKP CM inaugurates 51km section of Swat MotorwayChief Minister Khyber Pakhtunkhwa Pervez Khattak ...
Read More »Moody’s reaffirms Pakistan’s credit profile as B3 Stable
Moody's Investor Service, one of the world's most respected and widely utilized credit rating agency, on May 18, 2018, reaffirmed Pakistan's credit profile as B3 stable. The reaffirmation is based on the country's strong growth performance and potential, a relatively large economy and the sustained reforms programme undertaken by the Government in the last five years. Moody's credit analysis also highlights the greater transparency which Pakistan has achieved in its economic field besides keeping inflationary pressure to low levels and investing heavily in the energy and infrastructure sectors under the China Pakistan Economic Corridor (CPEC).
The stable outlook reflects the country's potential to further strengthen its growth beyond current levels with successful implementation of CPEC projects, cashing in on both foreign and domestic investments, continued robust activity of large scale manufacturing and a rebounding agriculture sector all of which would aid Pakistan to shift to a higher growth trajectory on sustained basis.
Moody's in its report also highlights the size of Pakistan's economy, with a nominal GDP of $305 billion in fiscal 2017 � the third largest among sovereigns in B rating category � which affords the country resilience to local and external shocks. Pakistan also fares better in GDP growth among its peers with 5.8 percent growth in fiscal 2018, as compared to the median 2017 growth of 3.8 percent among B rated sovereigns.
The report refers to implementation of structural reforms and the fiscal discipline achieved by the country in recent years. Moody's expects fiscal deficit to remain around 5.5 percent of GDP in fiscal 2018 on the back of strong revenue collection in the first six months which witnessed a 20 percent rise as compared to the corresponding year-earlier period.
Some areas where the country requires renewing its focus are increasing the revenue base, investing in social sectors, improving competiveness, reinvigorating privatization and managing debt profile astutely. The future outlook, however, bodes well for Pakistan as the reform agenda continues and key targets of macroeconomic stability, fiscal discipline and growth supporting initiatives continue on track. Moody's expect the country to maintain the growth momentum in the next fiscal also.
Government of Pakistan welcomes the re-affirmation of Pakistan's sovereign rating by Moody's Investors Service. It shows that Pakistan's economy, despite challenges, is on a stable path to a higher growth trajectory.
Source: MINISTRY OF FINANCE
Read More »IG Sindh reviews progress of Police Facilitation Centers, CRO system
A meeting presided over by Inspector General of Sindh Police A.D. Khawaja was held in Karachi on Sunday to review the progress of Police Facilitation Centers and Crime Record Office (CRO) system.The meeting was attended by all DIGs of the province and ...
Read More »Wheat procurement campaign continues successfully in Punjab
Wheat procurement campaign is continuing successfully in Punjab.A spokesman of Food Department Faisalabad said in a statement that department has achieved 43.55 percent of wheat procurement target so far by purchasing 2,327,902 bags of wheat during rec...
Read More »Al-Othaimeen hopes Islamic Summit would take effective measures on what is happening in Palestine
Istanbul, (UNA-OIC) - Secretary general of the Organization of Islamic Cooperation (OIC) Dr. Yousef A, Al-Othaimeen addressed the meeting of Foreign Ministers preparatory to the 7th Extraordinary Islamic Summit held in the city of Istanbul on Friday to...
Read More »One security personnel martyred in Nowshera blast
One security personnel was martyred and eight people including four security personnel and four civilians injured in a bomb blast at Katchehry Chowk Nowshera on Thursday afternoon.The injured have been shifted to CMH Nowshera.Three of them are stated t...
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