Dar says economy to stay on track

LAHORE: Federal Finance Minister Mohammad Ishaq Dar on Monday said all the economic indicators are blinking green and the country’s financial situation would further improve down the line.

“Pakistan has made a strong comeback and became stronger after 2013,” Dar said while talking a Lahore Chamber of Commerce & Industry LCCI delegation here at his office.

“Foreign exchange reserves are at the record level, balance of payments is good, and Pakistan Stock Exchange (PSX) is one of the best performing [bourses of the region], while macro-economic stability has also caught the attention of the investors around the globe.”

To a question, he said the Kalabagh and Bhasha dams cannot be built at the same time as former has been politicized. “Bhasha dam will be constructed at any cost, China is being asked to include Bhasha in China Pakistan Economic Corridor (CPEC).”

Voicing the grievances of the traders, the LCCI president Abdul Basit, during the meeting, raised a number of issues including nonpayment of refund claims, attachment of bank accounts, misuse of discretionary powers, and disparity in energy prices between the provinces.

He also suggested the Halal food sector should be given zero rated facility as the country has little share in the trade, which is estimated to be around $3 trillion worldwide.