Pakistan economy enters stabilization phase from bankrupt like situation: Report

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Pakistan economy enters stabilization phase from bankrupt like situation: Report

ISLAMABAD - Former Advisor to the Prime Minister Dr. Salman Shah said on Sunday that Pakistan has moving on the right track and it has been observed that economic stabilization is taking place while inflation is going down.

Talking to a private news channel he said, Pakistan managed to steer itself from bankrupt-like situation due to effective policies of the government. As far as the economic diplomacy is concerned, Pakistan is moving on the right track.

He said, there are visible signs of improvement and further steps are being taken to reduce fiscal and current deficit. Pakistan is still facing multiple challenges and threats which need long-term reforms.

He was hopeful that Pakistan is becoming an attractive place for investment. It is appreciable that growth rate has been revised however boosting of manufacturing and exports is imperative to bring economy to comfortable growth path.

He praised that it is a positive sign that Pakistan Tehrek-e-Insaf (PTI) government is well aware of the challenges and taking bold steps to combat these challenges to stabilize economy.

The incumbent government is also taking positive measures to boost economy, he added.