Pakistan achieves better place economically than six months ago: reports

LAHORE (92 News) – Pakistan has achieved better place economically than six months ago, said in the report of London-based daily newspaper ‘Financial Times’. According to the report, Pakistan is being acknowledged by the world, however, the western and Indian media also hailed the Pakistan’s pace of progress. “This is a new chapter for Pakistan,” said Vali Nasr in the report – dean of the School of Advanced International Studies at Johns Hopkins University in Washington DC – who recently returned from a visit to the country. “Any Afghani settlement needs Pakistan. Pakistan is playing ball with the US and that means Pakistan is in a position to make demands as well.” In addition, the economy is under less pressure today thanks to the decline in oil prices, which has slowed the pace at which the country was running out of foreign exchange reserves. Pakistan’s currency has also dropped by about 30 per cent against the US dollar since late 2017, making the country’s exports more competitive. “Today, Pakistan is in a much better place economically than six months ago,” said Taimur Baig, chief economist for DBS in Singapore. “It will be pragmatic and end up taking a little from everyone.” “Today, everyone is talking to everyone,” added one Pakistani banker. “The country is returning to the diplomatic fold.” Still, not everyone shares this more optimistic view of Pakistani prospects.