A view shows the Standard & Poor's building in the financial district, New York, US, February 5, 2013. REUTERS/Brendan McDermid/Files

 

ISLAMABAD: Pakistan's credit rating has significantly improved over recent years and investors are showing keen interest to take benefit of the existing investment opportunities, a senior official with the Asian Development Bank (ADB) said Tuesday.

During a meeting with Prime Minister Shahid Khaqan Abbasi, Xiaohong Yang ? the country director at ADB ? said Pakistan?s return to the international financial market was a clear indication of investors? confidence in country?s economy.

Yang appreciated the progress Pakistan had made towards overcoming energy-deficit by producing surplus generation. She also noted robust economic growth which was projected to reach 5.8 percent during the next financial year, enhanced revenue generation, and structural reforms being undertaken by the present government.

She said the marked improvement in the power sector had not only brought relief to domestic consumers but was also leading to growth in large-scale manufacturing.

The bank official assured Abbasi that the ADB would continue to provide its financial and technical expertise in all mutually agreed areas, including the energy sector.

She offered financial and technical support and expertise in the gas sector as well as the introduction of structural reforms in state-owned entities, including Pakistan Railways and Pakistan International Airlines.

The Premier thanked the ADB for continued support to infrastructure projects and expressed his optimism that the relationship would grow further as Pakistan enters high economic growth.

ADB senior energy specialist Asad Aleem, senior economic officer Asad Aleem, secretary economic affairs Arif Ahmed Khan, as well as other senior officers attended the meeting.