CPEC, TAPI to greatly con­trib­ute to eco­nomic growth, says Dar

The Pak Banker - - FRONT PAGE - Staff Reporter

Fi­nance Min­is­ter Mo­ham­mad Ishaq Dar has said that fu­ture roadmap of Pak­istan and South Asia re­gion is eco­nomic growth.

He was ad­dress­ing a cer­e­mony of South Asian Fed­er­a­tion of Ac­coun­tants. He said China-Pak­istan Eco­nomic Cor­ri­dor (CPEC) would not only prove ben­e­fi­cial for Pak­istan but also for the en­tire re­gion. Ishaq Dar said TAPI gas pipe­line pro­ject, CPEC, CASA-1000 and AIIB (Asian In­fra­struc­ture In­vest­ment Bank) are the very im­por­tant ini­tia­tives which would help im­prove eco­nomic growth rate. He said the PML-N govern­ment had al­ways put the coun­try's econ­omy on track to speedy growth as to­day twenty-two cred­i­ble in­sti­tu­tions of the world have de­clared Pak­istan econ­omy as much sta­ble. The Fi­nance Min­is­ter said govern­ment man­aged to bring down the bud­get deficit to 4.3 per cent from 8.8 per cent, be­sides en­sur­ing tax growth rate up to 33 per cent in two years.

He said the agri credit had also been dou­bled as of to­day it is over six hun­dred bil­lion ru­pees and de­vel­op­ment ex­pen­di­ture also en­hanced to seven hun­dred bil­lion ru­pees. Pak­istan could eas­ily at­tain six to seven per cent growth rate. Ishaq Dar said the govern­ment is also tak­ing ef­fec­tive steps to end en­ergy cri­sis and 10,000 MW would be added into the na­tional grid by March 2018.

Mean­while, Fi­nance Min­is­ter Ishaq Dar will leave for Dubai on Mon­day (to­day) to lead talks with the In­ter­na­tional Mon­e­tary Fund (IMF) mis­sion for the 10th quar­terly re­view of the Ex­tended Fund Fa­cil­ity pro­gramme, of­fi­cial sources said on Sun­day. Pak­istan and IMF have al­ready kick-started re­view talks in Dubai and first tech­ni­cal round will be com­pleted by the end of this month.

Mr Dar and Her­ald Fin­ger, IMF's mis­sion chief, will lead re­spec­tive sides in pol­icy level talks start­ing next week, of­fi­cials in the Mi­nis try of Fi­nance said. Sec­re­tary Fi­nance Dr Waqar Ma­sood Khan, State Bank of Pak­istan Gov­er­nor Ashraf Mehmood Wathra and Fed­eral Board of Rev­enue (FBR) Chair­man Nisar Mo­ham­mad Khan will as­sist the fi­nance min­is­ter. Af­ter an ex­pected agree­ment be­tween the two sides, Mr Fin­ger is ex­pected to visit Is­lam­abad for hold­ing a joint press con­fer­ence with Mr Dar.

Rec­om­men­da­tions will be made for re­leas­ing 11th tranche of $500 mil­lion to Pak­istan af­ter the suc­cess­ful con­clu­sion of talks. The sources added that Pak­istan au­thor­i­ties would brief the IMF del­e­ga­tion in de­tails on tax rev­enues, re­forms in en­ergy sec­tor and pri­vati­sa­tion pro­gramme dur­ing the meet­ing.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.