ISLAMABAD: Prime Minister Shehbaz Sharif has expressed approval of international credit rating agency S&P Global Ratings’ decision to elevate Pakistan’s sovereign credit rating from ‘B Minus’ to ‘B’. He characterized the upgrade as a crucial step forward for Pakistan’s economic landscape.

According to Radio Pakistan, the Prime Minister highlighted that this advancement signifies the international community’s trust in the government’s effective economic strategies, fiscal discipline, and reform agenda. The adjustment in the credit rating is seen as validation of the government’s efforts to enhance economic stability, refine the tax system, reduce the fiscal deficit, and bolster foreign exchange reserves.

Prime Minister Sharif noted that the government’s challenging yet necessary economic decisions are gaining acknowledgment at a global level. He expressed optimism that the upgraded rating will enhance international investors’ confidence, foster new investment opportunities, and accelerate economic growth in Pakistan.

He extended his appreciation to Deputy Prime Minister Ishaq Dar, Field Marshal Syed Asim Munir, Finance Minister Muhammad Aurangzeb, along with the government’s economic team and relevant institutions for their roles in achieving this milestone. The Prime Minister reiterated the government’s resolve to persist with economic reforms to establish a robust and sustainable foundation for Pakistan’s economy.