BATMAN
ELITE MEMBER
- Joined
- Mar 31, 2007
- Messages
- 29,895
- Reaction score
- -28
- Country
- Location
Trade corridor to make economy 2nd largest: Shah
Javaid Awan
Lahoreâ Advisor to Prime Minister on Finance and Economic Affairs, Dr. Salman Shah has said that the Government of Pakistan has been undertaking public sector reforms at rapid pace and its performance in this regard is much better than other regional countries, the fact has also been recognized by the international donors. He said the private sector would have predominant role in coming days âThe Government was undertaking a US$ 6 billion programme of National Trade Corridor, linking Pakistan to China and Central Asian States with roads and railway network, which would be completed in next five years. It would make the Pakistanâs economy worldâs second largest one. Rendering demographic dividends and providing huge opportunities to the local entrepreneurs to capitalize the untapped areas and enhance exports by exploring the global market as well as doing cost effective business. He stated this while addressing a pre-budget seminar held under the aegis of a local newspaper at Royal Palm Country Club here on Monday.
He said that a research study of the Competitive Support Fund and World Economic Forum rated Pakistan among top 10 reformer countries. He said that to maintain the pace of reform process an Economic Reform Unit has been set up in the Ministry of Finance. Dr. Salman Shah while underlining the need of skill development and human resource development said that out of 160 million population 100 million were below 25 years of age, adding that the youth were the future key success of the country which would channelized through imparting skill and vocational training.
He said the US$ 140 billion deregulated economy of the country had witnessed 30 percent increase in the growth of consumer market during the past half a decade therefore, there was huge potential for investment in different sectors. He added the direct foreign investment (***) registered unprecedented increase having the volume of US$5 billion. He said the foreign donors had shown consent to assist in water projects, which would benefit the country in energy to the tune of US$ 2-3 billion per annum. The Advisor said that a long term comprehensive plan to meet the energy demands was being evolved. He said the country was rich in water resources and to generate cheap hydel power all the big dams would be constructed by 2016. The government was now focusing on rural economy, microeconomic improvement and enhancing the social sector allocations, adding that budget for health and education was being doubled. He said to promote the small business and facilitate the small scale investor particularly encouraging the cottage industry, a micro-financing bank was being launched.
However, he also offered the private sector to avail opportunity and open micro-financing bank at provincial or district level. Speaking on the occasion, Dr. Ashfaque Hassan Khan, Advisor to Finance Ministry said that all the foreign donor agencies including World Bank, ADB, DFID had acknowledged the fact of declining poverty level and positive economic indicators of macroeconomic stability.
http://www.pakobserver.net/news/business01.asp
Javaid Awan
Lahoreâ Advisor to Prime Minister on Finance and Economic Affairs, Dr. Salman Shah has said that the Government of Pakistan has been undertaking public sector reforms at rapid pace and its performance in this regard is much better than other regional countries, the fact has also been recognized by the international donors. He said the private sector would have predominant role in coming days âThe Government was undertaking a US$ 6 billion programme of National Trade Corridor, linking Pakistan to China and Central Asian States with roads and railway network, which would be completed in next five years. It would make the Pakistanâs economy worldâs second largest one. Rendering demographic dividends and providing huge opportunities to the local entrepreneurs to capitalize the untapped areas and enhance exports by exploring the global market as well as doing cost effective business. He stated this while addressing a pre-budget seminar held under the aegis of a local newspaper at Royal Palm Country Club here on Monday.
He said that a research study of the Competitive Support Fund and World Economic Forum rated Pakistan among top 10 reformer countries. He said that to maintain the pace of reform process an Economic Reform Unit has been set up in the Ministry of Finance. Dr. Salman Shah while underlining the need of skill development and human resource development said that out of 160 million population 100 million were below 25 years of age, adding that the youth were the future key success of the country which would channelized through imparting skill and vocational training.
He said the US$ 140 billion deregulated economy of the country had witnessed 30 percent increase in the growth of consumer market during the past half a decade therefore, there was huge potential for investment in different sectors. He added the direct foreign investment (***) registered unprecedented increase having the volume of US$5 billion. He said the foreign donors had shown consent to assist in water projects, which would benefit the country in energy to the tune of US$ 2-3 billion per annum. The Advisor said that a long term comprehensive plan to meet the energy demands was being evolved. He said the country was rich in water resources and to generate cheap hydel power all the big dams would be constructed by 2016. The government was now focusing on rural economy, microeconomic improvement and enhancing the social sector allocations, adding that budget for health and education was being doubled. He said to promote the small business and facilitate the small scale investor particularly encouraging the cottage industry, a micro-financing bank was being launched.
However, he also offered the private sector to avail opportunity and open micro-financing bank at provincial or district level. Speaking on the occasion, Dr. Ashfaque Hassan Khan, Advisor to Finance Ministry said that all the foreign donor agencies including World Bank, ADB, DFID had acknowledged the fact of declining poverty level and positive economic indicators of macroeconomic stability.
http://www.pakobserver.net/news/business01.asp
