KARACHI: Caretaker Finance Minister Dr Shamshad Akhtar said that Pakistan has made significant progress towards macro-economics, exchange rate and financial stability despite many challenges.
Virtually addressing an IPO summit, she said growth is to rebound in the positive trajectory in the range of 2 % to 2.5 % with agriculture expected to grow by 5.6 % and industry by 2.5 % during the current fiscal year.
The finance minister said that the capital markets cannot thrive under very high interest rate regime.
She said the State Bank of Pakistan is aware of the fact that we will have to move to lower the interest rate subject to inflation coming down.
She added that foundation has been laid for attracting foreign direct investment.
Shamshad Akhtar said economic recovery process has bolstered business confidence and market sentiments. Pakistan Stock Market Index exhibited bullish momentum over the last five months, she said.
