Daily Times

=Former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Friday that the investment climate in Pakistan is improving, which is restoring the confidence of local and foreign investors. He said that fears of bankruptcy in the country are almost over as the economic situation is improving, which may lead to a reduction in interest rates. Administrative measures against hoarders and profiteers are necessary to reduce the prices of essential commodities and provide relief to the masses, he added. Shahid Rashid Butt said in a statement issued here that the visit of the Prime Minister to Saudi Arabia has remained fruitful, and there is a possibility of an investment of five billion dollars. He said the economy is improving, international institutions are satisfied, inflation is decreasing, and an interest rate cut seems in sight. The process of privatizing loss-making enterprises is going well, while the boom in the stock market is also proof of investor confidence. Shahid Rashid Butt said that the decision by Saudi Arabia to invest in Reko Diq is also welcome and will have a positive impact on the economic situation. He also lauded the Prime Minister’s move to contact his Kuwaiti counterpart with the aim of boosting economic cooperation.