Pakistan top emerging economy among South Asian markets: AMC

Another international ratings agency has reckoned Pakistan among the top emerging South Asian economies owing to continuity of policies and political stability.

The Atlantic Media Company (AMC) of the United States has ranked Pakistan as a relatively stronger economy in the South Asian markets and expected that it will grow rapidly during days ahead.

According to Atlantic’s report, the Pakistan government’s investment in infrastructure and other developmental projects has caused the country’s GDP to grow.

It is being acknowledged internationally that Pakistan is emerging as market leader.

Current economic conditions of Pakistan are attracting foreign investors, the AMC noted.

It was reported last month that the American index firm MSCI (Morgan Stanley Capital International) also inducted Pakistan in the 10 most emerging economies in the world.

AMC said that during the period January-July this year, Indian 100 point index was 6.67% while Karachi Stock Exchange (KSE) had achieved 100 point index of 17 per cent.

It said security situation in Pakistan has also improved resulting in economic stability.

Moreover the $46 billion investment in the China-Pakistan Economic Corridor (CPEC) will help Pakistan overcome chronic problems like power crisis and unemployment.

According to the report, Pakistan’s economy has been ranked as the best among all the South Asian countries including Bangladesh, India, Sri Lanka and Nepal.

It said KSE-100 Index has been performing the best among Asian markets during 2016 and was ranked as the world’s 5th best stock market.

Earlier, American media outfit Bloomberg declared Pakistan the Asian Tiger in its recent report while Moody’s had revised Pakistan’s ratings upward from C to B.