Business community says development would attract foreign direct investment, promote export, and improveg credit ratings
Says move will also address liquidity issues as releases from multilateral and other donor agencies.
Pakistan had borne accumulative financial losses to the tune of $40 billion during the last three years as it was put on the grey list of FATF.
ISLAMABAD: Hailing the Financial Action Task Force’s (FATF) decision of Pakistan’s removal from the grey list, the business community on Sunday said coming out of the watchdog’s increased monitoring process would boost economic activities and help put the ailing economy back on a sustainable growth path.
The decision would restore the confidence of international financial institutions, help attract foreign direct investment, and promote exports from the country besides improving credit ratings for the country.
Commenting on the mega development, President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Irfan Iqbal Shaikh lauded the efforts of civil and military leadership for achieving the landmark success for the country and said that it would further cement the government’s endeavours to attain sustainable economic development.
It will also address the liquidity issues as releases from the multilateral and other donor agencies such as the International Monetary Fund (IMF), the Asian Development Bank (ADB), World Bank (WB), and the Paris Club would further enhance, he said adding that it would...
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