Pakistan and China have agreed to further enhance cooperation in the financial sector, while Finance Minister Muhammad Aurangzeb says that Pakistan’s economic performance is positive. The government is taking continuous steps to diversify its financial sources and is committed to continuing the reform process.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb today held an important meeting with Chairman of Hongta Securities Jingfeng in Beijing.
During the meeting, the Finance Minister highlighted Pakistan’s recent economic performance and reiterated the government’s commitment to continue the series of structural reforms to achieve sustainable and inclusive economic growth.
Senator Aurangzeb also emphasized that international credit rating agencies are expressing increasing confidence in Pakistan’s economic situation.
He expressed satisfaction that the recent rating improvements have been made, with Moody’s raising Pakistan’s rating from Caa2 to Caa1 (stable outlook), Fitch upgrading it from CCC+ to B- (stable outlook), and Standard & Poor’s (S&P) upgrading it from CCC+ to B- (stable outlook).
In the meeting, the two sides discussed the possibilities of promoting cooperation in capital markets and further strengthening the Pakistan-China financial sector ties.
The Finance Minister emphasized that Pakistan is working to diversify its financial sources and deepen its ties with global and Chinese institutional investors.
Senator Aurangzeb said that Pakistan is committed to its reform agenda and attaches great importance to its partnership with Chinese investors. Together, we can open new avenues that will strengthen our economy and deepen financial cooperation.
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