Ishaq Dar says efforts underway to put economy back on track

SAYS PAKISTAN WOULD NOT DEFAULT AS ALL POSSIBLE EFFORTS BEING MADE TO STEER IT OUT OF DIFFICULT SITUATION

Finance Minister Ishaq Dar on Sunday asserted that the government was making all possible efforts to steer the economy of the difficult situation in order to put it on the path of sustainable economic growth. Addressing the Islamabad Chamber of Commerce and Industry (ICCI), the finance minister said that friendly countries were expected to materialize their commitments with Pakistan that would pave the way to close the deal with the International Monetary Fund (IMF) and revive the economy.

He said that in 2016, Pakistan was a rising economy as it was expected to become the world’s 18th-strongest economy, but was now facing serious economic challenges. He said that Pakistan would not default and the government was making all possible efforts to steer it out of a difficult situation in order to put it on the path of sustainable economic growth. He lauded the initiative of ICCI for hosting an Iftar dinner for diplomats. Speaking at the occasion, Ahsan Zafar Bakhtawari, President ICCI urged the government to ensure consistency in economic policies that would enable the business community and investors to invest in Pakistan with confidence. He assured that the business community would fully support the government in its efforts to revive the economy.

He highlighted the business and investment opportunities in Pakistan for diplomats and said that Pakistan was a huge market of over 220 million consumers and offered great investment opportunities in various sectors of its economy.

He said that foreign investors should transfer technology to Pakistan and explore joint ventures and investments in areas of interest.

Faad Waheed, Senior Vice President ICCI said that Pakistan needed exports to overcome its foreign exchange crisis and hoped that the foreign diplomats would fully cooperate with Pakistan in realizing this goal.

Engineer Azhar ul Islam Zafar, Vice President ICCI thanked the chief guest, diplomats and all the participants for attending the Iftar dinner.

He said that if the government created a more conducive business environment, the private sector would be able to improve the health of the economy.