Dar and nation can be proud of
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.