ISLAMABAD, Nov 2 (APP): Minister for Finance Muhammad Ishaq Dar Wednesday said good governance and prudent economic measures taken by the government had resulted in upgrading Pakistan’s long-term credit rating from B-to B with stable outlook by Standard & Poor’s.
He said in their report, Standard & Poor’s had acknowledged steps taken by the present government for overall improvement in Pakistan’s economic indicators, implementation of reform agenda and good governance.
The minister was chairing a meeting to review debt profile of the country.
The Finance Secretary and Director General Debt briefed the minister highlighting that debt sustainability had improved during the present government’s tenure. The overall borrowing rate had shown a decrease due to the macroeconomic stability and improved credit ratings by international rating agencies, he added.
Ishaq Dar appreciated the efforts of the Debt Policy Coordination Office.
The meeting was attended by senior officials of the Finance Ministry.