Islamabad: Finance Minister Muhammad Aurangzeb has praised the recent upgrade of Pakistan’s sovereign credit rating by Fitch, attributing it to the government’s focus on macroeconomic stability.

According to Ministry of Information and Broadcasting, the Minister, while addressing the media, pointed out that the successful negotiation of the Staff Level Agreement with the International Monetary Fund (IMF) was pivotal in securing the rating upgrade. This agreement, he noted, played a key role in stabilizing Pakistan’s economic indicators.

Aurangzeb highlighted the positive trajectory of all macroeconomic factors, indicating that the country is moving in the right direction. He emphasized the decrease in policy rates, a change that he described as beneficial for the industrial sector. Furthermore, he expressed hope for further reductions in the policy rate aligned with a significant decrease in the inflation rate, which has dropped from 38 percent to 12 percent.

The Minister conveyed optimism about the enduring impact of these developments on the country’s economic future, suggesting that the improved rating and other positive economic indicators would strengthen Pakistan’s economy going forward.