Keep on: PML-N’s economic management yields results

Economists praise govt, finance minister.


Our Correspondent April 02, 2014

ISLAMABAD: Results of the economic management by Finance Minister Ishaq Dar in light of the directives of Prime Minister Nawaz Sharif have manifested themselves as there is a record increase in the value of the rupee against the dollar. A record reduction of Rs5.61 in the price of petroleum products has been achieved. The foreign exchange reserves have risen above $10 billion in 10 months.

Additionally, the payment of circular debts has commenced and the government has paid off Rs500 billion of these debts. New records of an increase in the sale and purchase of shares were made on the stock exchange as well. The strong business indexes allured many delegations of foreign investors to Pakistan and they expressed their full confidence in the government’s economic policies in their meetings with Prime Minister Nawaz Sharif.

The International Monetary Fund (IMF) authorities, in their meetings with Finance Minister Ishaq Dar in Dubai and Washington, said that steps taken by the government of Pakistan were in the right direction.

Additionally, there has been an increase in the money remitted home by expatriate Pakistanis. The solid efforts to handle the energy crisis have led to a marked reduction in load-shedding. Tax collection has also recorded a prominent increase.

Economic activities have gained momentum as a result of the increase in forex reserves, increase in the value of the rupee against the dollar and a reduction in the prices of petroleum products. The increase in gross national product and decrease in inflation have also had a salutary effect.

Express News spoke with economist Dr Ashfaq Hasan Khan who said overall economic progress is visible in the country. “We should not get into numbers game because sometimes numbers prove to be dangerous, but we should also praise the PML-N government and the finance minister for their efforts,” he said.

Economist Rashid Amjad told Express News that the increase in the value of the rupee against the dollar is welcome but we need to keep an eye on it. The reduction in the prices of petroleum products is also welcome and this will certainly benefit the common man by reducing transportation charges. He said that the federal and provincial ministers will have to ensure that the prices of the commodities of the common man’s use are reduced as a result of the lower fares and transportation charges.

Published in The Express Tribune, April 2nd, 2014.

COMMENTS (11)

sterry | 9 years ago | Reply

@Usman: You may choose to ignore the improving economy with excuses but do western newspapers like NYT and ratings groups like S & P know less than you? In Canada, we have been hearing positive reports on the Pakistani economy many months before the 1.5 billion dollar gift of Saudis. I know you are desperate to downplay any positive growth in economy but thankfully we have western newspapers to confirm the obvious betterment in outlook for Pakistan.

Shamy | 9 years ago | Reply "Additionally, there has been an increase in the money remitted home by expatriate Pakistanis". The fact that Pakistanis are migrating abroad increasingly due to the appalling economic conditions in the country and trying to support their families back home by remitting money is not an achievement.
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