ISLAMABAD: Renowned Financial institution Morgan Stanley has declared Pakistan’s economy better than India.
In its report Morgan Stanly stated that the investors should forget India and instead profit from the ‘quiet rise’ of Pakistan along with Sri Lanka and Bangladesh.
In an article, America’s financial magazine advised investors where profit is to be had through stock investments. It pitched Pakistan, Sri Lanka and Bangladesh as the places to be, saying the trio is enjoying fast-paced growth, embracing reforms and look set to enjoy a demographic dividend over the long term.
According to the article, the three countries represent what Morgan Stanley chief global strategist Ruchir Sharma calls “the quiet rise of South Asia” as opposed to India which has been “flattered by spasms of hype for years”.
Inflation is under control, the budget deficit has been reduced and, more importantly, terrorism finally appears to be on the back-foot, given more assertive action by the army.
This along with Chinese investment in the transportation and energy sectors will be crucial to higher growth. The report stated that more power capacity is key for Pakistan to move to an even higher economic growth rate. In December, the Pakistan Stock Exchange sold 40 percent stake to a consortium of Chinese investors.
