International Eurobonds payment, a healthy sign for Pakistan’s economy: Saqib Rafiq

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Rawalpindi: /DNA/ – The Rawalpindi Chamber of Commerce and Industry (RCCI) has said that the payment of international Eurobonds worth one billion dollars will increase the confidence of financial institutions and also a healthy sign for Pakistan’s economy. RCCI President Saqib Rafiq in a statement said that the timely payment of Eurobond has negated the negative propaganda that Pakistan is going to default.

Saqib Rafiq said that the payment will not only increase the confidence and trust of external investors, IMF and World Bank on Pakistan’s economy but also show significant progress towards economic stabilization. Despite the payment, the rupee has not come under pressure and the value of the rupee has stabilized against the dollar, he added.

Saqib Rafiq said that there is only one demand from the government that the Chamber of Commerce should be involved in economic policy making. He said that in order to stabilize the economy on a solid foot, it is necessary to reduce unnecessary expenses, focus on industrialization so that the country’s economy can stand on its own feet and dependence on external financial institutions is minimized.