ISLAMABAD, Sept 23: Federal Minister for Privatization Dr. Abdul Hafeez Shaikh said that the structural reforms and stabilization of economic policies being followed by Pakistan had achieved impressive progress on the macroeconomic front.

He said the economic exchange and the industrial cooperation were the key to economic growth in the present world order.

According to a fax message received here on Tuesday from Berlin, the minister stated this in his keynote address as head of a Pakistani delegation at the second Pakistan Business Day organized by Deutsche-Pakistan Forum (DPF) and Pakistan Embassy in collaboration with various German business groups and organizations, Pakistan-German Business Forum (PGBF), Karachi and Pakistanis Board of Investment (BoI) in the framework of the fourth Asia Pacific Week Berlin.

In view of our friendly relations the economic and trade interaction need to be accelerated in the presence of the existing potential in both the countries, he said.

While giving an overview of the economic progress achieved by Pakistan through macroeconomic stabilization, Hafeez Shaikh said the foreign exchange reserves had touched the ever highest figure of over $11 billion giving enough room and confidence for upgrading the country’s credit rating to BB.

The minister also presented the key features of Pakistan’s investment and privatization policies and invited German companies to invest in IT, telecom, power, water resources management/ dams, housing & construction, education, health, oil & gas and tourism.—APP