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Collective efforts of stakeholders brought economy back on track: Caretaker PM

Caretaker Prime Minister Anwaar-ul-Haq Kakar has said that the collective efforts of all stakeholders have successfully brought the economy back on track.

He expressed these views while addressing a ceremony marking first auction of the Government Ijarah Sukuk Bond issued by the Pakistan Stock Exchange on Friday.

The Prime Minister said the investors have regained confidence after successful signing of a standby agreement with the International Monetary Fund and improvement in fiscal and external accounts.

He also lauded current performance of Pakistan Stock Exchange and said that it has an important role in economy.

The Prime Minister said economy was facing multiple challenges at the start of current financial year but after resolution of structural and macro-economic issues by the government, now it is showing upward trajectory.

The Prime Minister said the bullish trends in the stock exchange became possible due to participation of foreign investors, a high yield, and a stable exchange rate.

Anwaar-ul-Haq Kakar also reiterated the government's commitment to steer the economy toward stability.

He also called for making efforts to build a capital market that reflects economic strength.

Addressing the ceremony, Caretaker Finance Minister Shamshad Akhtar said the Iajarah Sukuk is an innovative product being launched for first time beyond the State bank which has total control over government securities.

The Prime Minister also rang the gong of the stock exchange.

Source: Radio Pakistan

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