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Islamabad—The Finance Minister Senator Mohammad Ishaq Dar called on His Highness Prince Karim Agha Khan Monday and briefed him about the state of economy and the measures taken by the government to redress macro-economic imbalances inherited by the present PML-N Government. Welcoming His Highness Prince Karim Agha Khan to Pakistan, Senator Mohammad Ishaq Dar said that the government and the people of Pakistan acknowledge the contributions of His Highness in the social sector with particular reference to Pakistan.
His Highness expressed satisfaction over the work being done by the Agha Khan Development Network (AKDN) in Pakistan and expressed a keen desire to expand their operations in Pakistan. Islam, His Highness said, teaches to work honorably, earn and share it with the people. The Finance Minister briefed His Highness that the PML-N government had inherited an economy with severe macro-economic imbalances and apprised him of the measures taken by the PML-N Government to address them so that the economy could be revived and put on a path of sustainable growth.
The Finance Minister said that the medium term economic frame work of the PML – N Government envisages a decrease in the fiscal deficit from 8 to 4%, increase in growth rate from the present 3% to 7% by the end of next three years, increase in investment to GDP ratio to 20% and building up of foreign exchange reserves to $20 billion. In this connection he recounted the measures taken in the budget, clearance of circular debt and the conclusion of a programme with IMF which he said have started showing results as the business community has responded positively and the results of the first quarter have been encouraging. Besides an increase of 25% in KSE index reflects the confidence of investors in the policies of the government, he added.
The Finance Minister said that the International Financial Institutions have now started approaching Pakistan and expressed the confidence that foreign exchange reserve position would improve soon. He said that the PML-N Government led by Prime Minister Nawaz Sharif is committed to good governance, transparency, zero tolerance for corruption, merit and maintenance of strict financial discipline. Prince Karim Agha Khan appreciated the PML-N Government for increasing the allocation for social safety net from Rs.40 billion to Rs.75 billion.
The Finance Minister said that the government has initiated the Prime Minister Youth Programme. Presently National Bank of Pakistan and the First Women Bank are participating in the programme. The government, he said, was ready to extend similar conditions to Habib Bank Limited.—INP
Dar asks Aga Khan to diversify investment in Pakistan
His Highness expressed satisfaction over the work being done by the Agha Khan Development Network (AKDN) in Pakistan and expressed a keen desire to expand their operations in Pakistan. Islam, His Highness said, teaches to work honorably, earn and share it with the people. The Finance Minister briefed His Highness that the PML-N government had inherited an economy with severe macro-economic imbalances and apprised him of the measures taken by the PML-N Government to address them so that the economy could be revived and put on a path of sustainable growth.
The Finance Minister said that the medium term economic frame work of the PML – N Government envisages a decrease in the fiscal deficit from 8 to 4%, increase in growth rate from the present 3% to 7% by the end of next three years, increase in investment to GDP ratio to 20% and building up of foreign exchange reserves to $20 billion. In this connection he recounted the measures taken in the budget, clearance of circular debt and the conclusion of a programme with IMF which he said have started showing results as the business community has responded positively and the results of the first quarter have been encouraging. Besides an increase of 25% in KSE index reflects the confidence of investors in the policies of the government, he added.
The Finance Minister said that the International Financial Institutions have now started approaching Pakistan and expressed the confidence that foreign exchange reserve position would improve soon. He said that the PML-N Government led by Prime Minister Nawaz Sharif is committed to good governance, transparency, zero tolerance for corruption, merit and maintenance of strict financial discipline. Prince Karim Agha Khan appreciated the PML-N Government for increasing the allocation for social safety net from Rs.40 billion to Rs.75 billion.
The Finance Minister said that the government has initiated the Prime Minister Youth Programme. Presently National Bank of Pakistan and the First Women Bank are participating in the programme. The government, he said, was ready to extend similar conditions to Habib Bank Limited.—INP
Dar asks Aga Khan to diversify investment in Pakistan
