ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Thursday said the present government was committed to further improve its economic performance, achieve higher growth rate and contain fiscal and current account deficits.
He was talking to Director Middle East and Central Asia of International Monetary Fund Masood Ahmad here at the PM House.
The Prime Minister appreciated the role of IMF in assisting Pakistan to achieve economic stability and said the Fund program was on track for completion for the first time in the history of the country.
He said that his government was also improving monetary stability and addressing structural issues.
The Prime Minister noted with satisfaction that during the last two and a half years Pakistan had been moving towards sustainable growth after successfully meeting the set performance criteria and indicative targets in collaboration with IMF.
He said that the government had achieved robust economic growth in the wake of improved medium-term growth outlook and sustainable fiscal and external positions.
He said liberalization of trade regime and improved business climate had attracted foreign as well as local investors to invest in diverse fields in the country.
The Prime Minister highlighted that the main focal areas under the Fund program had witnessed notable improvements.
Increase in tax revenue through tax administration; increase in Foreign Exchange Reserves well over $20 billion; resolution of energy issues including electricity tariff rationalization and reforms in the Gas sector have significantly contributed towards economic stability in the country.
The Prime Minister said the confidence of the international financial markets in Pakistan’s positive economic outlook was a proof of successful march on attaining long term economic stability.
He said the ultimate aim of the present government behind all these endeavours was to improve standard of living of the people.
He said the government was also pursuing its development agenda simultaneously for creation of economic activities and generation of employment opportunities leading to reduction in poverty.
Masood Ahmad appreciated the economic turnaround achieved by the present government and said that the development agenda being pursued by the government would further consolidate the gains achieved so far in Pakistan’s economy.
The IMF delegation included Head of IMF Programme Harald Finger and Resident Representative Tokhir Mirzoev. Minister for
Finance Muhammad Ishaq Dar, Governor State Bank of Pakistan Ashraf Mahmood Wathra and other senior officials of the government were also present during the meeting.