Economy moving towards stability: Governor SBP.

KARACHI -- Governor State Bank of Pakistan, Dr. Reza Baqir has said that Pakistan's economy is moving towards stability.

While addressing the Annual Financial Crime Summit in Karachi, he said that Pakistan would soften its terms and conditions as economy improves. He stated that it was a right decision to change the exchange rate.

'The citizens changed their foreign currency accounts to saving accounts which benefited the economy. We also tightened our policy related to anti-money laundering and terror financing. Since we are a nation highly affected by terrorism, we have to keep an eye on these matters,' he said.

Dr. Reza Baqir further stated that due to the steps taken by government, the investors gained confidence in Pakistan. He added that country's foreign exchange reserves are on rise.

'The condition of our economy has improved immensely. Due to Pakistan's ease in business policies, more companies are looking forward to invest here. Even the international monetary institutions are praising Pakistan's performance,' he said.

The governor stated that Pakistan is taking strict measures to curb money laundering.

'It is the need of hour to take tough...