ISLAMABAD: Federal Minister for Finance Mohammad Ishaq Dar Sunday said that we should thanked the friendly countries for donating $1.5 billion as gift for the people of Pakistan.
He said the value of rupee will remain stable at around Rs 98 in future and may slightly fluctuate.
Talking to a private TV channel, he said that the friendly countries had full confidence in Pakistan and the government of Pakistan Muslim League-Nawaz (PML-N) and they donated $1.5 billion unconditionally in Pakistan Development Fund (PDF).The Minister said the amount would be spent on different development projects in various sectors, including energy, infrastructure, railways, communication and transportation.
He said Pakistan will get huge amount after issuing 3G and 4G licenses in the market.
Ishaq Dar said Pakistan has been ranked second in the world in terms of business growth in a survey conducted by the Japan External Trade
Organization (JETRO). A famous economist Jim O’Neill, has also forecasted that Pakistan would become world’s 18th largest economy by 2050 (from its present 44th position), the minister maintained.
He said that almost every single economic indicator from gross domestic product (GDP) to inflation, agriculture to industry, from imports to exports, from remittances to foreign inflows, from exchange
rate stability to interest rate, fiscal deficit to revenues and from reserves to public debt shows a new positive beginning for the country’s economy.
“Allah has rewarded our pure and good intentions, the hard work that our government has rendered under the dynamic leadership of Prime Minister Muhammad Nawaz Sharif,” he remarked.
He said that PML-N government is focusing on extremism,terrorism, energy and economy of the country and all necessary steps are being taken to achieve these objectives.
Dar said that reserves position in the country would improve further with inflows of foreign investment and with the proceeds of forthcoming Euro Bond issues. Rupee will further strengthened in days to comehe added.
He said the economy had performed well during the first eight months of current fiscal year as was evident from major economic indicators, such as growth rate, inflation, foreign remittances, foreign exchange reserves, external trade and industrial growth.
The minister said tax collection during the period increased by 17.7 percent as compared to the last year.