Islamabad, Caretaker Finance Minister Shamshad Akhtar has highlighted Pakistan’s significant strides towards achieving macroeconomic, exchange rate, and financial stability amidst ongoing challenges.
According to Ministry of Information and Broadcasting, Minister Shamshad Akhtar, in her virtual address at an IPO summit, provided an optimistic outlook for Pakistan’s economic growth. She projected a positive growth trajectory of two to two and a half percent for the current fiscal year, with the agricultural sector expected to grow by 5.6 percent and the industrial sector by 2.5 percent. Acknowledging the difficulties posed by high interest rates for capital markets, she noted the State Bank of Pakistan’s awareness of the need to lower interest rates, contingent upon a reduction in inflation.
The Finance Minister also emphasized that foundational steps have been taken to attract foreign direct investment. She noted the improvement in business confidence and market sentiments, citing the bullish momentum observed in the Pakistan Stock Market Index over the past five months, signaling a robust economic recovery process.
Islamabad, The inauguration of the CPEC Corner at the Ministry of Foreign Affairs’ library in Islamabad marked a significant moment in the strengthening of strategic ties between Pakistan and China. The event was attended by Foreign Secretary Muhammad Syrus Sajjad Qazi and visiting Chinese Vice Foreign Minister Sun Weidong.
According to Ministry of Foreign Affairs, Vice Foreign Minister Sun Weidong emphasized China’s special regard for Pakistan in its foreign policy during his current visit to Islamabad. He expressed China’s commitment to further reinforcing the strategic relationship between the two nations and thanked Pakistan for its support on China’s core issues. Vice Foreign Minister Sun also reaffirmed China’s backing for Pakistan’s sovereignty, territorial integrity, and its pursuit of economic development, progress, and prosperity.
Foreign Secretary Muhammad Syrus Sajjad Qazi welcomed Vice Foreign Minister Sun to Pakistan and highlighted the broad political, institutional, and public support for the Pakistan-China friendship within Pakistan. He underscored the importance of this bilateral relationship for regional peace and stability and voiced Pakistan’s eagerness to enhance and deepen cooperation in various domains.
The establishment of the CPEC Corner is a symbol of the close cooperation under the China-Pakistan Economic Corridor (CPEC) initiative and reflects the enduring partnership between the two countries.