ISLAMABAD: The appointment of Muhammad Aurangzeb as Pakistan’s finance minister is a positive step to steer the country’s economy in right direction, Bloomberg said in a report.

“Pakistan’s Prime Minister Shehbaz Sharif picked a former banker from JP Morgan Chase & Co. as finance minister, marking a shift to using technocrats to steer the cash-strapped economy and negotiate for new loans from the International Monetary Fund (IMF)”, US-based Bloomberg reported.

It added PM Shehbaz Sharif had the experience of closing a deal with the multilateral lender as prime minister. He personally negotiated with IMF Managing Director Kristalina Georgieva.

Newly-appointed federal minister Muhammad Aurangzeb resigns as HBL President & CEO

Bloomberg Economics analyst Ankur Shukla said in a report that Shehbaz Sharif had the track record of carrying out reforms and his return as prime minister for a second term increased the chances of securing a new IMF package.

His party’s election manifesto — which includes cutting the fiscal deficit and fixing the current account balance — are aligned with the IMF targets or, in some cases, even more ambitious, Shukla wrote in the report.

It added Pakistan had rewarded investors who still ploughed in funds as the nation’s dollar bonds handed them a gain of almost 25 percent this year, the biggest in Asia.


Comments are closed.

Sumroo Mar 13, 2024 01:09pm
A banker who not a even Pakistani citizen cannot do an iota to bring positive change to economy!
thumb_up Recommended (0)
Kashif Mar 13, 2024 01:37pm
A person who will earn 3 crore rupees par monthly as finance minister to make good economic of poor nation is stupid hope.
thumb_up Recommended (0)
Love Your Country Mar 13, 2024 03:45pm
Why do we keep finding replicas of Showkat Tareen? Let's see how this experiments goes and how long it lasts. The parties not in the cabinet are sharpening their daggers behind the scenes.
thumb_up Recommended (0)
Az_Iz Mar 13, 2024 06:30pm
Someone with credentials and brains.
thumb_up Recommended (0)
Az_Iz Mar 13, 2024 06:40pm
Talented person at the top is better than someone with just ego and nothing else.
thumb_up Recommended (0)
Az_Iz Mar 13, 2024 06:46pm
Miftah, Akhtar and Aurangzeb. People with skills, who can be trusted to deliver.
thumb_up Recommended (0)
Pakistani1 Mar 14, 2024 12:22am
The difference between the previous time and now is that Miftah Ismail was persistent and consistent in his approach and it cost him his job. Will Aurangzeb do what Miftah did or will he do what Dar has done so many times.
thumb_up Recommended (0)