News Column

Economy taking off, inflation decreasing

May 17, 2014

Our Staff Reporter



Finance Minister Senator Ishaq Dar on Friday said that economy of Pakistan is taking off upward trend in growth and decreased inflation.

He said this while talking to Ambassador Robin Raphel who is US Coordinator for Economic and Development Assistance in Pakistan. Finance Minister and Robin Raphel discussed the bilateral economic issues and cooperation between the two countries to encourage trade and investment in the region.

The Finance Minister had a detailed discussion with the Ambassador on recently completed 3rd successful review by the IMF and on the latest economic indicators. He said that the economy of Pakistan is taking off upward trend in growth and decreased inflation.

He said that with the over subscription of Euro Bond, successful auction of 3G/4G Spectrum and improved economic indicators, the international confidence in Pakistan has increased to a level where we can build stronger economic base. He said that Pakistan is back in business with World Bank and Asian Development Bank after a long period. In the reform agenda our core principles are transparency, merit and good governance, he added.

The Finance Minister reiterated that energy remains one of the highest priorities of the present government. In this connection the government is working on fast track to the indigenous resources to reduce the dependence on imported resources.

The Finance Minister also discussed CASA-1000 Power Transmission Project and hydropower projects in Pakistan including Dasu and Diamir Bhasha Dams with the Ambassador.

Ms Robin Raphel said that Pakistan’s macro economic picture is on upswing and hoped that it will remain on track. She assured continued US support for energy projects. She hoped that the coal powered energy projects would be installed with clean technology. The US side also informed the Finance Minister that the Administrator of the United States Agency for International Development (USAID), Rajiv Shah will be visiting Pakistan soon at the invitation of the Finance Minister. The meeting was also attended by Secretary Finance and senior officials of the Ministry of Finance and the US Embassy in Pakistan.


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Source: Nation (Pakistan)


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