Indian media heaps praise on Pakistan's army chief for economic revival efforts
Last updated on: 12 September,2023 11:13 pm
Indian media heaps praise on Pakistan's army chief for economic revival efforts
LAHORE (Web Desk) – Indian media has praised Pakistan Army chief for his efforts to revive the national economy reeling under high inflation triggered by rupee depreciation against the US dollar amid shrinking foreign exchange reserves.
An Indian media television channel broadcast a special package to highlight how Pakistan’s Chief of Army Staff (COAS) General Asim Munir is actively playing his role to strengthen the economy as it has been plunging into crisis for months despite efforts made by the political setups.
In a video clip circulating on social media, the newscaster can be heard shedding light on the army chief’s efforts to bring foreign investment to Pakistan.
— Adeel Asif (@AdeelAsifPk) September 12, 2023
He said the Pakistan Army chief also aimed at wooing back the Pakistani investors, who have left the country in previous years, and inviting them to invest in agriculture, mining and IT sectors.
Currently, Pakistani rupee is rebounding against the US dollar in both interbank and open markets after it touched historic low levels, deepening the economic crisis and multiplying the foreign debt.
The rupee has gained ground against dollar since COAS assured the business community in a meeting earlier this month that transparency in dollar exchange and interbank rates would be ensured.
He had said that money exchanges would also be brought under the tax net.
General Munir is also part of the Special Investment Facilitation Council (SIFC) that has been established to increase the investments from foreign countries, especially the UAE, Saudi Arabia and Kuwait, in Pakistan.