Pakistan economy: Moody's assessment green signal to investors: PCJCCI chief

Pak-China Joint Chamber of Commerce and Industry President Shah Faisal Afridi termed the current assessment of Pakistan's economy by "Moody's" as a green signal to the international investors for investing in Pakistan, which will also strengthen Chinese Investors' confidence in Pakistan.
Commenting on Moody's assessment, President PCJCCI said the government has met 10 of 17 structural benchmarks to set the economy on track for achieving further improvements. He observed that upward rating has, in fact, resulted from successful and timely completion of the IMF aided programs, improvements in the external liquidity position and infrastructure advancement that eventually had led the economy to a higher growth trajectory.
He was of the view that positive trends of Pakistan's economy as identified by an independent and credible international source like Moody's would help grow foreign investors confidence on present government's policies relating to the trade and industry in the country. He added that Moody had appreciated energy sector reforms and improvement measures to be introduced by the present government of Pakistan along with privatisation of the state-owned enterprises, which shows that no matter how much pessimist you are about Pakistan and its economy or future in general; or no matter how much resentment you brew for the current Pakistani government, one cannot deny authenticity and validity of Moody's. Moody's is the bond credit rating business which is respected all over the globe, and when it says positive or negative, the world believes.
Shah Faisal Afridi said Moody's positive and stable outlook means that government of Pakistan is very well capable of supporting its banks as well as paying its loans back, which means that the interlink between banks and government is transparent and stable putting the risk profile at low and investment options highly stable and profitable. He said this is the third bullish assessment of Pakistan's economy by a significant institutional player, after the other two coming from the International Monetary Fund and the State Bank over the past two weeks. He said the G-8 and other developed countries get Moody's research and market prediction to invest and provide loans and project funding at international level. Therefore, the positive opinion given by Moody's on Pakistan's economy is a good omen for foreign investment including the investment coming from China, he added.