'PTI govt hasn't borrowed a single rupee in past six months from SBP'
In meeting with Dr Abdul Hafeez Sheikh, British envoy says UK supports ongoing economic reforms in Pakistan'
An AFP file photo of Dr Abdul Hafeez Sheikh.
ISLAMABAD:
The government is striving for export-led growth in the country as growth fuelled by consumption instead of investments is not sustainable and durable, said Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Thursday.
During a meeting with British High Commissioner to Pakistan Dr Christian Turner, he said, "We want quality growth which is led by growth in exports and investments and not driven by mere consumption, which was the pattern of the previous government."
Shaikh welcomed the gesture of the British government in changing its travel advisory for Pakistan and showing interest in further strengthening bilateral ties in trade and investment.
He said that the PTI government was also pursuing a broad-based economic reforms agenda by reducing interventions in the market and promoting the privatisation process.
He further added that the current government has not borrowed a single rupee in the last six months from the State Bank of Pakistan (SBP).
The adviser informed the British envoy that the government was also taking corrective measures to minimise the effects of inflation by doubling budget for the social safety net, subsidising gas and power utilities and further revamping and improving its multi-billion cash transfer programme to protect the poor segment of the population.
He said the government had done a lot of work in bringing back macroeconomic stability to the economy and a platform had been provided for further economic growth.
Also speaking on the occasion, Turner said that his country supported the ongoing economic reforms in Pakistan and saw the economy as a key area for future collaborations.
He further added that he was interacting with the government's economic team to find avenues for strengthening bilateral trade and investment.
Published in The Express Tribune, January 31st, 2020.
The government is striving for export-led growth in the country as growth fuelled by consumption instead of investments is not sustainable and durable, said Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Thursday.
During a meeting with British High Commissioner to Pakistan Dr Christian Turner, he said, "We want quality growth which is led by growth in exports and investments and not driven by mere consumption, which was the pattern of the previous government."
Shaikh welcomed the gesture of the British government in changing its travel advisory for Pakistan and showing interest in further strengthening bilateral ties in trade and investment.
He said that the PTI government was also pursuing a broad-based economic reforms agenda by reducing interventions in the market and promoting the privatisation process.
He further added that the current government has not borrowed a single rupee in the last six months from the State Bank of Pakistan (SBP).
The adviser informed the British envoy that the government was also taking corrective measures to minimise the effects of inflation by doubling budget for the social safety net, subsidising gas and power utilities and further revamping and improving its multi-billion cash transfer programme to protect the poor segment of the population.
He said the government had done a lot of work in bringing back macroeconomic stability to the economy and a platform had been provided for further economic growth.
Also speaking on the occasion, Turner said that his country supported the ongoing economic reforms in Pakistan and saw the economy as a key area for future collaborations.
He further added that he was interacting with the government's economic team to find avenues for strengthening bilateral trade and investment.
Published in The Express Tribune, January 31st, 2020.