Economic indicators going upward: Dar

KARACHI: Federal Minister for Finance Ishaq Dar on Wednesday said that economic indicators are going upward and there would be more progress in the next three years.
Addressing the KSE Top Companies Awards 2010-2013, organised by the Karachi Stock Exchange at the PAF Museum Auditorium, Ishaq Dar said that successful economic policies of the government’s policies had led to an improvement in grading to Pakistan by the international financial rating agencies, while the growth rate of the country had been at its best as compared to that in previous six years.
He said the present government had been implementing a four-point agenda which included provisions for the elimination of terrorism, resolution of energy crisis, economic stability, and the development of the social sector in the country.
APP adds: Dar said elimination of extremism; the energy crisis curtailment and doubling the GDP allocation for education and Health sectors are the goals the PML-N government is fast on its way to achieve.
“We at the very outset managed to adopt measures focused on economic reforms that helped to regain the country’s reputation in the international markets,” he said.The finance minister said the PML-N, given a heavy mandate by the people, has adopted a multi-pronged approach and is also fast on its way to help the country end the demand-supply gap in the power sector by the end of 2017.
Similarly, the government has an inflexible resolve towards the elimination of terrorism, he said, mentioning that the concerned elements are not to be given any respite or space in any part of the country.
The minister particularly referred to operation Zarb-e-Azb, claiming that action is being taken against terrorists without any distinction or discrimination.Equal attention is being paid towards provision for a conducive and viable environment for investment and economic prosperity with an inflexible resolve to implement reform agenda with equal attention towards field of technology.
A long-term vision was said to have been adopted with the motive to create better job opportunities for the people around 900,000 every year.About achievements during past 20 months, he said economic indicators have moved in a favourable direction while inflation continues to follow a downward trajectory and is expected to be well below the annual target of 8.0 percent.
At the same time, GDP growth is on course to surpass the fiscal year 2014’s outcome and owing to recent foreign exchange inflows and lower oil price, external sector outlook continues to improve, said the finance minister.
He mentioned that government’s efforts to contain the fiscal deficit have been on track while current macroeconomic stabilisation has opened a window of opportunity to gear up reforms meant to ensure improvements in the economy on sustainable basis.
All the measures adopted and positivism generated cannot be cause of any complacency as all-out efforts are being made to get the country included among the league of major economic powers of the region, he said.
The finance minister said these efforts would not in any manner compromise country’s Islamic identity hence due stock is extended towards promotion of sukkuk and other relevant instruments.