RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) welcomed Moody’s Ratings’ upgrading Pakistan’s sovereign credit rating from Caa1 to B3, terming it an encouraging sign of growing international confidence in the country’s economic policies and reform agenda.

In a statement, RCCI President Usman Shaukat said that the upgrade was particularly encouraging despite the enormous challenges posed by multilateral and global uncertainty, including the ongoing conflict in the region and tensions involving Iran and the United States.

He said the recognition of Pakistan’s improving economic conditions by leading international financial institutions and credit rating agencies was a welcome development and could help strengthen investor confidence, improve access to international financing and create greater opportunities for the private sector.

“Moody’s upgrade reflects the progress made toward macroeconomic stabilization, improved fiscal management and strengthening of Pakistan’s external position.

Published in Dawn, August 26th, 2026