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Chairman London Stock Exchange calls on Finance Minister

May 2, 2014

A delegation comprising UK's top fund managers led by Chairman, London Stock Exchange Dr. Christopher Gibson-Smith called on Finance Minister Senator Ishaq Dar in London on Friday and discussed ways and means to further strengthen Pakistan-UK relations in the field of economy.

While talking to the delegation, the Finance Minister highlighted Pakistan's improving macroeconomic stabilization indicators manifested by rising reserves, appreciating currency, fiscal reforms and decreasing inflation rate, said a message received here from London today.

He said that GDP growth during the first half of the year of the present government rose to 4.1% from 3.4% last year, an anticipated increase, showing the economy is on the right track.

He expressed his confidence in the tax reforms undertaken by his government which has seen a decent increase in the Tax-to-GDP ratio and 17% jump in revenue collections. International financial institutions are displaying satisfaction with Pakistan's economic performance and opening their doors again to Pakistan, he added.

The Finance Minister Ishaq Dar who is currently visiting London also informed that the country is expected soon to become eligible for concessionary loans from International Bank for Reconstruction and Development (IBRD) making possible for it to undertake major infrastructure projects.

Chairman London Stock Exchange, Dr. Christopher Gibson-Smith while praising the Finance Minister said that he has never seen a Finance Minster with such a strong grip on his numbers and such a clear vision.

He offered full support in implementation of the Finance Minister's policies with both expertise and capital available for Pakistan from UK.

Responding to a question about liberalizing trade with India, the Finance Minister reiterated the vision of the Prime Minister Muhammad Nawaz Sharif to have cordial relations with all neighbouring countries, including India, and to promote economic prosperity through trade and cooperation.

He said that both governments are working closely towards granting of more liberal, non-discriminatory market access on reciprocal basis.

Later Dr Gibson-smith called on the Prime Minister of Pakistan, Muhammad Nawaz Sharif and appreciated his efforts to put Pakistan on the road to prosperity with right economic policies.

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Source: Daily Messenger (Pakistan)

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