Finance Minister Ahmed Munawar says this Government wished to increase investments to the country, even if it means taking some risks.
Referring to the Moody’s credit ratings issued, the Minister said this administration’s decision to act on them was a sign that economic expansion was the first on the agenda.
‘We could have kept the ratings at bay. But this Government wanted to see all the challenges or risks and then bring in investments,’ he said.
The Minister also responded back to criticism over debt situation. He said this administration had already addressed the issue of outstanding debts, inherited from previous administrations. This, he added, includes the overdue payment of US$ 270 million to India’s GMR.
The Government had initiated a sovereign development fund from 2017 onwards. So far, the fund has amassed 1.6 percent of GDP. By 2022, the Government estimates that this figure would be at eight percent of GDP, which by present terms is equivalent to over US$ 500 million.
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