KARACHI: Adviser to PM on Finance Abdul Hafeez Shaikh said on Friday thegovernment had, so far, returned $10 billion worth of foreign loans.
Addressing a ceremony at the Pakistan Stock Exchange in Karachi, he saidthat some of these loans were not even acquired by the present government.
The finance adviser maintained that Pakistan’s economy was on an upwardtrajectory and that its performance was being acknowledged by all the majorforeign financial institutions.
“Members of the Asian Development Bank reported to their board thatPakistan’s performance warrants the provision of special instruments,” hesaid.
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Shaikh said that after a period of four years, portfolio investors hadexpressed their confidence in the country and invested in excess of $1billion. He said that the foreign direct investment had witnessed a 87pcincrease in the first five months of the current financial year as comparedto the past year.
“All the investors, evaluators, analysts, agencies and organisations whosetask it is to monitor the economies of countries, have all given Pakistan athumbs up.
