By Commerce Reporter
LAHORE – The President of the Lahore Chamber of Commerce & Industry Mian Abuzar Shad has warmly welcomed the boost in Pakistan’s credit rating by S&P Global to B- from CCC+ and the commendation by the World Bank for Pakistan’s strides in sustainable development.
He termed these achievements as a reflection of the Prime Minister Shahbaz Sharif and his economic teams’s prudent economic policies, strategic planning and commitment to long-term economic growth and global integration.
Mian Abuzar Shad said that recognition from World Bank and S&P is a significant milestone that will play a vital role in boosting foreign investment, enhance business credibility and creating a more stable financial environment for the private sector. He said that the improvement in credit rating by a globally known institution like S&P Global sends a strong message to the foreign investors that Pakistan is on a path to economic recovery and resilience.
He said that despite numerous global and regional economic challenges, the Government of Pakistan has made commendable efforts in steering the country toward macroeconomic stability. The credit rating upgrade is not just a statistical improvement but a strong endorsement of the government’s efforts to stabilize the economy, reduce fiscal deficits, enhance tax collection and implement structural reforms.
The LCCI President further stressed the importance of this positive development for the business community. He said that such international recognition boosts the morale of local entrepreneurs and provides them with confidence to invest, expand and innovate. “It will help reduce borrowing costs for the government and private sector, improve access to international financial markets and strengthen Pakistan’s position in global trade and commerce”, he added.
Mian Abuzar Shad said that Pakistan’s shift toward inclusive and environmentally responsible economic growth is in line with global goals and will open new doors of cooperation and funding from international development partners. It is very encouraging to see Pakistan being recognized for its efforts in climate action, renewable energy, poverty alleviation and social sector reforms.
He hoped that the government would maintain this momentum and continue focusing on policies that foster ease of doing business, reduce regulatory bottlenecks, support export-led growth and incentivize small and medium-sized enterprises (SMEs). These developments should now be translated into on-ground facilitation for traders, manufacturers and exporters so that the benefits of macroeconomic stability reach every level of the economy.
The LCCI President assured the government of full cooperation from the business community in further strengthening Pakistan’s economic position. “The business community stands shoulder-to-shoulder with the government in the pursuit of economic revival and sustainable development.
He hoped that this positive trend will continue and urged all stakeholders, including the public sector, private investors and international partners, to work together for a prosperous, inclusive and sustainable Pakistan.
