Dar and na­tion can be proud of

Pakistan Observer - - EDITORIALS & COMMENTS -

ON com­ple­tion of its three years, the PML(N) Gov­ern­ment is le­git­i­mately re­joic­ing and celebrating its achieve­ments on the eco­nomic front, try­ing to send a mes­sage of hope to the peo­ple about their own fu­ture and that of the coun­try. On Fri­day, Fi­nance Min­is­ter Ishaq Dar proudly an­nounced that for the first time in the his­tory of the coun­try, FBR has achieved the tar­get of tax col­lec­tion of Rs. 3,104 bil­lion for the year 201516. He also pointed out that for­eign ex­change re­serves touched his­toric height of $23 bil­lion as of 30th of June 2016 and the in­fla­tion was at the low­est in 46 years.

The un­tir­ing ef­forts of the Gov­ern­ment’s eco­nomic team, led by dy­namic Ishaq Dar, have jus­ti­fi­ably at­tracted ap­pre­ci­a­tion by Prime Min­is­ter Nawaz Sharif who de­clared that suc­cess of the Gov­ern­ment’s vi­sion is not con­fined to rhetoric, rather vividly re­flected in the eco­nomic growth. His ob­ser­va­tions were also cor­rob­o­rated by the third quar­terly re­port for 2016 by State Bank of Pak­istan which stated Pak­istan’s econ­omy main­tained its growth mo­men­tum dur­ing fis­cal year 2016 de­spite suf­fer­ing from heavy losses in the agri­cul­ture sec­tor. Sim­i­larly, the per­for­mance is also rec­og­nized by in­ter­na­tional fi­nan­cial in­sti­tu­tions and was am­ply re­flected by the re­cent mile­stone of achiev­ing the sta­tus of emerg­ing mar­ket by Pak­istan. It is note­wor­thy that the Gov­ern­ment achieved all this de­spite road-blocks cre­ated by some po­lit­i­cal par­ties through neg­a­tive and vi­o­lent pol­i­tics that trig­gered po­lit­i­cal un­cer­tainty. The na­tion, there­fore, has rea­sons to be proud of these achieve­ments and hope­fully the eco­nomic team of Pak­istan would go for out of box ideas to scale fur­ther heights in months and years ahead. Pak­istan has im­mense po­ten­tial, which still re­mains un­tapped in dif­fer­ent ar­eas and there­fore, fo­cus should be on ad­dress­ing ills and ex­ploit­ing this po­ten­tial. Suc­cess­ful im­ple­men­ta­tion of CPEC re­lated projects, lib­eral in­cen­tives of­fered to agri­cul­ture in the new bud­get and plans of the Gov­ern­ment to con­cen­trate on res­o­lu­tion of con­stituency-based prob­lems dur­ing the next two years would surely make a dif­fer­ence. How­ever, we would urge the au­thor­i­ties con­cerned to ad­dress chal­lenges fac­ing our ex­ports, explore new and non-tra­di­tional mar­kets, lower de­pen­dence on for­eign loans, make well-to-do to pay their due taxes, of­fer in­cen­tives to IT and Tele­com sec­tors that have huge po­ten­tial to grow and pro­vide lib­eral grants for re­search and de­vel­op­ment to en­sure sus­tain­able de­vel­op­ment and growth.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.