Citibank Pakistan lauds the economic policies of the current government
The senior team of the Citibank flanked their managing director and had a conversation with business analysts and reporters in a causal way.
In a recent press conference, the panel of directors at Citibank Pakistan gave a flying endorsement to the new economic policies of the current government.
Nadeem Lodhi, the managing director of Citibank, while addressing the media, commented on the measures taken by the government for economic stabilization. He said,
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”We are seeing a paradigm shift in economic management with efforts being made towards addressing the low tax-to-GDP ratio and the move from managed to market-based exchange rate are helping restore investor confidence.”
The senior team of the Citibank flanked their managing director and had a conversation with business analysts and reporters in a causal way. It was unanimously said by the entire team that the current government is moving in the right direction with its new economic policies and if it continues, the results would be fruitful.
“We are playing an extremely tight game with interest rates”
Apart from that, the presence of numerous disruptive impacts from the chosen course was also acknowledged, which includes the noise being made because of increasing tax implementation by the government.
Over and above that, they supported the fact that the interest rate has been high in the past year. They even supported the idea that it should remain high, taking inflation into account. They further sided the broadening of the tax base. While pointing at the narrow gap between the discount rate and inflation, Nadeem Lodhi stated, “We are playing an extremely tight game with interest rates.”
Apparently, Mr. Lodhi has a legit reason to support the increasing interest rates.
Mr. Lodhi further mentioned, “If the political regime continues as is, things are likely to improve.”
“We are not out of the woods yet, but we are seeing confidence returning to the market,” he additionally added.
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