KARACHI: Korangi Association of Trade and Industry (KATI) President Muhammad Ikram Rajput has urged the government to accelerate the reform process and address the structural challenges confronting the business and industrial sectors on a permanent basis.
He said greater focus was required on reducing energy costs, increasing industrial production, promoting exports, improving the tax system, encouraging investment and facilitating ease of doing business.
According to Rajput, these measures were essential for establishing a stronger foundation for genuine and sustainable economic growth.
He said Pakistan’s objective should not be limited to overcoming the current economic crisis but should be to transform the country into a strong, self-reliant and economically resilient nation.
He said that achieving this objective would require the government, business and industrial community and other stakeholders to work together on long-term economic reforms and ensure their effective implementation.
Rajput expressed hope that the government would maintain the current trend towards economic stability while addressing the difficulties faced by the business community.
Such measures, he said, would further strengthen the confidence of industrialists and investors and help sustain the positive momentum in the economy.
He welcomed Moody’s decision to upgrade Pakistan’s sovereign credit rating, describing the move as a positive development and an important step towards greater economic stability.
Reacting to the upgrade from Caa1 to B3, Rajput said the improvement reflected growing confidence among international institutions in Pakistan’s economic conditions, fiscal discipline and ability to meet its debt obligations.
He said Moody’s decision to maintain Pakistan’s outlook at stable was another indication that the economy was moving in the right direction.
The KATI president attributed the improvement to the government’s economic policies, reforms and measures aimed at stabilising the economy, particularly those pursued under the leadership of the Prime Minister and the Field Marshal.
He appreciated the efforts of the government’s economic team to strengthen economic stability, improve the external sector and maintain fiscal discipline.
Rajput said the improved credit rating could help restore international investor confidence, attract greater foreign investment and improve Pakistan’s access to international financial markets. However, he stressed that the gains achieved through economic stabilisation must now be converted into sustainable and broad-based economic growth.
Copyright Business Recorder, 2026