PR No.247 Islamabad: March 24, 2017

Federal Minister for Defence Production Rana Tanveer Hussain attended a National Day Ceremony at Kualalumpur, Malaysia. The ceremony started with flag hoisting and anthem singing followed by national songs by the youth.  While addressing the ceremony Federal Minister highlighted the significance of the day and stated that the government is doing concerted effort to govern in accordance with the vision of Quaid-e- Azam and Allama Iqbal. Our policies are in conformity with the 11th August address of our great Quaid.

Rana Tanveeer Hussain, Federal Minister for Defence Production was Chief Guest at a Pakistan Day reception hosted by the Ambassador. A large number of Pakistani community, diplomats and dignitaries attended the dinner.

While addressing the community members he said that Pakistan’s economy has picked up in the last few years with the improved law & order situation and focus on overcoming the energy crisis government has taken effective measures to improve the situation. He expressed the confidence that the government would be able to meet its commitments of ending the power shortage crisis within its tenure.

Pakistan’s economic indicators are improving day by day and there is unprecedented improvement. Exports are growing and manufacturing sector is witnessing remarkable progress, he added.

The Minister said that Pakistan’s foreign reserves have increased; stock market is performing well and the bench mark index PSE100, crossed 49,000 in January 2017 and is touching new heights. Industrial sector has shown remarkable performance and registered a growth of 6.8 percent during 2015-16.

International economic agencies are upgrading ratings for the financial and economic stability of Pakistan. World Bank forecasts a GDP growth of 5.2 % for 2016-17. S & P also expects Pakistan’s debt to fall below 60 percent of GDP by 2018. It has upgraded Pakistan’s long-term credit rating to B with a stable outlook.