S&P Global Upgrades Pakistan’s Credit Rating from “B-” to “B”; PM Shehbaz Sharif Welcomes the Development

ISLAMABAD — 

Bureau Report Muhammad Saleem Prime Minister Muhammad Shehbaz Sharif has welcomed the decision by global credit rating agency S&P Global Ratings to upgrade Pakistan’s sovereign credit rating from “B-” to “B.”
In a statement, the prime minister termed the development a significant milestone for the country’s economy, describing it as a reflection of global confidence in the government’s effective economic policies, fiscal discipline and reform measures. He said the improved rating from the international institution demonstrates that the government’s efforts to stabilize the economy, reform the tax system, reduce the fiscal deficit and strengthen foreign exchange reserves are moving in the right direction.
PM Shehbaz noted that the government had taken difficult but necessary economic decisions, the positive results of which are now being acknowledged internationally. He added that the development would boost the confidence of international investors, create new investment opportunities, and further accelerate Pakistan’s economic growth.
The prime minister commended the efforts of Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Federal Finance Minister Senator Muhammad Aurangzeb, the economic team and relevant institutions for this achievement. He reaffirmed that the government would continue its journey of economic reforms with full seriousness and commitment to establish sustainable and strong economic foundations for Pakistan.