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Pakistan

Web Desk
December 3, 2019

PM Imran expresses happiness over economic team's performance: sources

Pakistan

Web Desk
Tue, Dec 03, 2019

ISLAMABAD: Prime Minister Imran Khan expressed happiness over the government's economic team's performance on Tuesday, according to sources. 

The prime minister was presiding over a federal cabinet meeting where Moody's report on Pakistan came under discussion. 

"The economic team has turned around the economic condition of Pakistan," he was quoted as saying. "I am very satisfied with their performance."

The prime minister was also quoted as saying that people would hear good news on the economic front very soon. He urged members of the federal cabinet to highlight the positive points of the Moody's report so the general public would know about it.

The federal cabinet was also briefed on the appointments of the chairman election commission and its members.

The federal cabinet also gave its approval for the appointment of WAPDA personnel.

The cabinet further gave approval for the establishment of special courts for minors.

Moody's bumps up Pakistan outlook from negative to stable

Credit rating agency, Moody's Investors Services, on Monday revised upwards Pakistan's outlook from 'Negative' to 'Stable'.

Moody's announced bumping Pakistan's outlook rating in a report released Monday, affirming a B3 rating for the country and confirming that the economy's future look stable as opposed to negative earlier.

The credit rating agency said it had positively revised the outlook in light of further improvement in Pakistan's balance of payments. Although the foreign exchange reserves were still low and that it would take time for the figure to boost, it said the policy adjustment and free floating — or flexible — exchange rate would help enhance the balance of payments.