September 27, 2020

Tough Economic Decisions Are Starting To Show Positive Results: Raza Baqir

While addressing the members of the Overseas Investors Chamber of Commerce and Industry (OICCI), on Wednesday, Raza Baqir said that tough decisions taken by the government are finally beginning to bear fruit. He added that he agrees that the government reforms were tough on the people. He added that the macroeconomic stability in the country would attract FDIs and would increase growth.

He said that the Current Account Deficit has decreased by almost half of it’s value as compared to the previous year, exports have increased, non-borrowed foreign exchange reserves are starting to increase and the exchange rate is also stable.

OICCI President Shazia Syed added that the economic contribution of the OICCI members has reached almost $13 billion and the members are among the largest stakeholders of the country. She said that the members are positive regarding investments in Pakistan, despite the economic challenges faced by country. The OICCI members also gave a list of recommendations to the governor for improving the situation further. The governor said that the Central Bank would do all in it’s capacity to facilitate the investors and promised to consider the recommendations of the OICCI members.

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