Pakistan made great progress towards financial stability: Shamshad

Caretaker Finance Minister Shamshad Akhtar has said despite challenges, Pakistan has made significant progress towards macro-economic, exchange rate and financial stability.

Virtually addressing an IPO summit, she said growth is to rebound in the positive trajectory in the range of two to two and a half percent with agriculture expected to grow by five point six percent and industry by two and a half percent during the current fiscal year.

The Finance Minister said the capital markets cannot thrive under very high interest rate regime.

She said the State Bank of Pakistan is conscious of the fact that we will have to move to lower the interest rate subject to inflation coming down.

She said foundation has been laid for attracting foreign direct investment.

Shamshad Akhtar said economic recovery process has bolstered business confidence and market sentiments. Pakistan Stock Market Index exhibited bullish momentum over the last five months.

Source: Radio Pakistan