Business leaders hail Moody’s upgrade as historic boost for Pakistan’s economy

LAHORE: Pakistan’s recent credit rating upgrade by Moody’s International has been hailed by leading business and industrial figures as a “historic and welcome development” that will significantly boost the country’s economic prospects.

In their reaction over the development, President Lahore Chamber of Commerce and Industry (LCCI) Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, former FPCCI President and current SAARC Chamber Vice President Mian Anjum Nisar, economist Khawaja Shahzeb Akram, business leader Ahsan Shahid, and renowned importer Khurram Lodhi said the improvement would uplift industry and trade while enhancing Pakistan’s image globally.

Speaking to this correspondent, LCCI President Mian Abuzar said the upgrade is proof Pakistan is moving in the right direction, offering a clear signal to foreign investors about the country’s stability and vast opportunities. He predicted a rise in foreign direct investment, job creation, export growth, and industrial development. Mian Anjum Nisar termed the Moody’s report more than a technical rating, describing it as a strong endorsement of Pakistan’s global standing. He called for active economic diplomacy to turn this momentum into concrete trade agreements and investment deals. He also highlighted that with an improved rating, Pakistani banks could secure cheaper international loans, easing business financing.