Prime Minister Muhammad Shehbaz Sharif has congratulated the nation on the upgradation of Pakistan's sovereign credit rating from Caa1 to B3 by Moody's.

In a statement, he welcomed the upgradation of Pakistan's sovereign credit rating by Moody's.

The Prime Minister commended the efforts of the government's economic team. He also lauded Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Army Chief and Chief of Defence Forces Field Marshal Syed Asim Munir, Finance Minister Muhammad Aurangzeb and all the concerned ministers and officials for this achievement.

Shehbaz Sharif said the improvement in Pakistan's credit rating reflects global confidence in the government's economic policies and reforms.

He said the recognition of the improvement in Pakistan's economic condition by international financial institutions and rating agencies is welcoming.

The Prime Minister said Pakistan's economy is heading towards stability, and the upgradation in the rating by international institutions is its clear evidence.

He said the government has taken effective steps to stabilize the economy and improve the external sector.

He further said that confidence of international institutions in Pakistan is growing owing to the government's consistent efforts and reforms for economic stability.

Shehbaz Sharif said the government will further expedite the process of reforms to build Pakistan's economy on sustainable foundations. He said our goal is to make Pakistan a strong, self-reliant and sustainable economy.