Daily Times

Pakistan Business Forum (PBF) has expressed satisfaction over the current economic situation of the country.

In a media briefing after a meeting of the Executive Council of PBF, President PBF Khawaja Mehboobur Rahman, Chairman PBF South Punjab Malik Talat Sohail and Vice President Chaudhry Ahmad expressed that two years ago, there was a situation of uncertainty regarding the economy. They said that anyone who had not studied the devastation of the Sri Lankan economy was also afraid of Sri Lanka’s default as a sign of fear, said a press release issued here on Saturday. Such was the uncertainty of the currency that calls for a minimum dollar value of Rs 350 and as high as Rs 400 were common, they told.

“Now, at least, there was clear satisfaction that Pakistan is not in the dire situation of bankruptcy. The stability of the Pakistani currency is evident, its continuous high flight has stopped. Importer’s barrier to open LCs is over. Dollar is Rs 278 in interbank. The stock exchange index is at an all-time high. The staff level negotiations with the IMF have already been successful and there is no obstacle for several months like in the recent past. Prime Minister Mian Shahbaz Sharif’s visit to Saudi Arabia Crown Prince Mohammed bin Salman reiterated his goodwill towards Pakistan and five billion dollar investment in Pakistan, as well as encouraging prospects for investment from other friendly countries”.