Finance Minister Muhammad Aurangzeb on Tuesday said the rate of inflation is steadily decreasing due to the government measures.

He was addressing a seminar on ‘CPEC Phasetwo and the region’ in Lahore via video link. The Finance Minister said confidence of investors in the country has risen, and the policy rate is on a downward trend.

He said phase one of the ChinaPakistan Economic Corridor (CPEC) focused on infrastructure development while phase two will now focus on the monetization of phaseone and is set to commence.

Muhammad Aurangzeb emphasized that the private sector has the potential to drive the country’s economic growth. He said foreign investment in the country is increasing.

He reaffirmed the government’s commitment to providing favorable conditions for investors from China and Saudi Arabia and expressed optimism about the success of the International Monetary Fund (IMF) program.