Pakistan heading towards economic stability: Dar

Nov 30, -0001

ISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar said Thursday that Pakistan was moving towards economic stability and was planning to issue new Global Bond and Sukuk in 2015-2016.

Addressing Pakistani community and businessmen at Pakistan High Commission London on a luncheon organized by the High Commission, Dar said Pakistan was ready for the 7th IMF review, which had never happened before, said a message received here from London.

He also expressed that the Government was fully committed to asset sale programme.

Dar on the occasion highlighted the improved stable outlook in the country's ratings ever since the Euro Bond and also shared his government's vision of the roadmap for continued economic prosperity and efforts to overcome the challenges to economy.

The Minister explained that Government's reforms agenda was based on 4Es, i.e. economy, energy, extremism and education/health (social sector).

Ever since the Government came into power under the leadership of Prime Minister Muhammad Nawaz Sharif, the above-mentioned four sectors were being addressed on priority, he added.

As a result, Dar said the growth rate was improving, the inflation was showing downward trend, capital market was performing better and the currency gained stability.

The Minister further stated that government would end the energy shortage before the completion of its tenure.

Ishaq Dar paid glowing tribute to the armed forces of the country that were successfully fighting terrorism and extremism in the country, and hoped that Pakistan would soon get rid of this menace.

He reiterated government's commitment to increase education budget from 2% to 4% in next two years.

Dar mentioned about the positive sentiments he came across during his ongoing interactions with the International Financial Institutions.

Investors showed keen interest in the economic performance of the country,informed the Minister.

 Ishaq Dar appreciated the role of diaspora and said that they were helping Pakistan economy in a great deal through their valuable remittances.

He also thanked Pakistan High Commission for arranging his interaction with the community and the investors in London.

The Minister also interacted with British as well as Pakistani media in London.

After the interaction Ishaq Dar left for the USA to participate in the World Bank and IMF's spring meetings.

In his opening remarks, Syed Ibne Abbas, Pakistan High Commissioner to the UK welcomed the Minister and thanked him for agreeing to share his vision on Pakistan economy with the community and potential investors in the UK.

He also welcomed the community and businessmen to the High Commission.

The event was attended by about 100 people from cross-section of the society, including Members of the House of Lords, Mayors,Councillors, leading business people, community leaders,representatives of the financial institutions and media.- APP

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