JEDDAH, Dec 14: Pakistan has no intention of devaluing the rupee, Prime Minister Shaukat Aziz said here on Thursday. “Pakistani rupee is strong and stable, and there is (to be) no devaluation,” he said in response to questions relating to an observation made in the latest IMF report that Pakistan’s exchange rate was misaligned. “The Pakistani rupee has in the past few days gone stronger,” the prime minister asserted.

Mr Aziz who was addressing the Jeddah Chamber of Commerce and Industry, spoke about investment prospects in Pakistan and said its robust economic growth coupled with low cost of production, its proximity to Central Asia and availability of skilled manpower made Pakistan a good choice for investment.

Continuity and consistency of economic policies, a high degree of transparency and good governance were the hallmark of Pakistan’s economy today, he added.

On the issue of Arab Gulf Cooperation Council states’ desire to acquire nuclear energy for peaceful purposes, he said: “We believe all countries have a right to peaceful uses of nuclear energy," adding that Pakistan was already meeting some of its energy needs through nuclear power and planned to add generation capacity.