Pakistan expected to remain on sustained growth path

High-level delegation touts country’s economic potential in US meetings


APP October 15, 2017
View of city skyline at dusk in Karachi. PHOTO: REUTERS

ISLAMABAD: A high-level Pakistani delegation held various bilateral discussions on the sidelines of the International Monetary Fund/World Bank annual meetings, according to a press release received on Saturday.

The delegation, comprising Finance Secretary Shahid Mahmood, State Bank of Pakistan (SBP) Governor Tariq Bajwa and Economic Affairs Division Secretary Arif Ahmed Khan, was participating in the 98th ministerial meeting of G-24 in Washington DC.

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The delegation met IMF Deputy Managing Director Mitsuhiro Furusawa, US Treasury Deputy Assistant Secretary Michael Kaplan and International Fund for Agriculture Development (IFAD) President Gilbert Houngbo, besides attending a number of other events.

The delegation discussed the current economic situation in Pakistan, the release said, adding positive economic developments taking place in the country, particularly the highest economic growth rate in the last 10 years along with contained inflation, were highlighted.

They expressed the hope that ongoing China-Pakistan Economic Corridor (CPEC) projects, improved security situation and growth in private sector credit off-take, especially fixed investments, would lead to a sustained and inclusive higher growth trajectory for Pakistan in coming years.

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Referring to the main challenges facing the economy, they mentioned that the current account deficit was partly driven by higher machinery imports which in coming years should add to the growth momentum of the economy through increased economic activity.

However, the external account situation was being closely monitored and steps were being taken to address it, the delegation members said.

Published in The Express Tribune, October 15th, 2017.

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COMMENTS (1)

Sodomite | 3 years ago | Reply Suerely with a BOP gap of over $26Billion in the current year, stock market losing over 25% and expected to remain anemic coupled with political uncertainty is it not being delusional that Pakistan will be able to tread along a high growth path?? Private equity has problems in raising capital when the stock market is asking for Gov bailout and foreign investors have fled fearing collapse in foreign reserves to pay them off. My my we have experts running the show in Pakistan. .
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