Pakistan Credit Rating Improves

A senior official of Asian Development Bank on Tuesday said the credit rating of Pakistan had significantly improved in recent years and investors were showing keen interest to take benefit from the existing investment opportunities, APP reported. Xiaohong Yang, country director ADB in a meeting with Prime Minister Shahid Khaqan Abbasi said Pakistan’s return to international financial market was a clear indication of investors’ confidence in the country’s economy. Xiaohong appreciated the progress that Pakistan had made towards overcoming energy-deficit by producing surplus generation. She also noted robust economic growth which was projected to reach 5.8% during the next financial year, enhanced revenue generation and structural reforms being undertaken by the government. She said marked improvement in power sector had not only brought relief to domestic consumers but was also leading to growth in large scale manufacturing. The ADB official assured the prime minister that ADB would continue to provide its financial and technical expertise in all mutually agreed areas including the energy sector.