Govt plans strategic push for growth-oriented roadmap: Tarin

ISLAMABAD: Shaukat Tarin, adviser to PM on finance on Thursday said the government was committed to introduce growth-oriented measures to stimulate economy with a clear roadmap of strategic priorities, business facilitation, investment opportunities, and revenue and expenditure plans.

The adviser was addressing ‘Dialogue on the Economy-2021’ conference organized by Pakistan Business Council in Islamabad.

The adviser said the aspiration was to lay foundation of higher inclusive and sustainable growth so that the economy withstands any shock. He said prudent fiscal reforms helped in improving the tax-to-GDP ratio and improving revenue generation.

Increasing tax collection and expanding the tax base were key objectives of the government's financial agenda, he added.

The adviser identified priority sectors such as agriculture, IT, and industry modernization to boost exports and said special economic zones (SEZs) had been set up to attract foreign investment. The government is pursuing ‘Make in Pakistan’ policy to promote export-oriented industrialization in the country, he said.

The adviser also shared steps taken to help the underprivileged through social protection programs to improve living standard of vulnerable segments of the society by empowering them.

The adviser said current trend in key economic indicators as well as recent high frequency indicators were giving encouraging signals for growth. He envisaged that GDP (Gross Domestic Product) would grow more than the target in FY2022 and sustain its momentum in medium-term.

The adviser expressed confidence that in the face of various challenges/risks persisting both at external and domestic level, economy would be self-reliant and capable of competing with its competitors globally. He thanked the organizers of the dialogue and emphasized that such dialogue would help further crystallized challenges and develop optimal solution for the same. -

Meanwhile, the adviser assured Corporate Restructuring Company Limited (PCRCL) of his full cooperation and support for revival of sick industrial units and making them profitable contributors for the economy of Pakistan.

The adviser was presiding over a meeting on revival of sick and closed units at Finance Division.

He supported PCRCL on its endeavors for revival of sick and closed units and revitalizing the economy.

He stressed for carrying out structural changes for viable working of PCRCL by reviewing its performance, capacity building of the management and financially strengthening the organization.

Earlier, Chief Executive Office, PCRCL gave a presentation on performance of the company and initiatives taken for the revival of sick units, businesses and clearing the bank balance sheets. He also apprised the meeting on the impediments in the way of successful operations of PCRCL and sought support of the government.

Among others, Federal Minister for Industries and Production, Adviser to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, Secretaries finance, Industries, Chairman SECP, Deputy Governor SBP, MD USC, CEO PCRCL and senior officers participated in the meeting.