News Updates

Pakistan’s Economy Shows Signs of Recovery, Calls for Interest Rate Cuts and Timely Elections

Karachi, Pakistan’s economy is showing signs of improvement after a period of downturn, with positive developments in inflation control, foreign exchange reserves, and international financial relations. This progress brings forth discussions on potential interest rate cuts and the crucial role of upcoming elections in sustaining economic stability.

According to Pakistan Businessmen and Intellectuals Forum, the country is witnessing an economic recovery. The International Monetary Fund (IMF) is reportedly satisfied with the current economic measures, inflation rates are slowing down, and deficits, along with the dollar rate, are being effectively managed. He mentioned that under the Strategic Investment Framework Consortium (SIFC), significant investment agreements are being finalized with countries like Kuwait, Saudi Arabia, and the United Arab Emirates, which are expected to boost industrialization, agriculture, and exports, leading to employment generation and resolving economic issues.

Hussain highlighted the vital role of the Shahbaz Sharif government in averting a financial crisis by securing loans from friendly countries and an agreement with the IMF. He credited the current caretaker government and military leadership for making tough decisions that satisfied the IMF, thereby sending positive signals to investors and creditors globally. Hussain emphasized the importance of timely and transparent elections and the successful completion of another IMF program for political and economic stability in Pakistan.

Furthermore, Hussain noted that while the current IMF program aims to prevent bankruptcy, more comprehensive measures are required to steer the economy in the right direction and promote development. He stressed the need for responsible policies, privatization of failing state-owned enterprises, and addressing losses in the energy sector to change the economic situation significantly. However, he cautioned against making economic decisions based on political considerations, which could lead to a return of past challenges.

Hussain’s remarks underscore the critical juncture Pakistan’s economy is at, with a need for continued prudent economic management and political stability to ensure long-term growth and development.

The post Pakistan’s Economy Shows Signs of Recovery, Calls for Interest Rate Cuts and Timely Elections appeared first on Pakistan Business News.