Washington meeting: Dar says economy is on the right track

Finance minister meets US deputy national security adviser

ISLAMABAD:

Finance Minister Ishaq Dar called on US Deputy National Security Adviser for International Economic Affairs Caroline Atkinson in Washington DC, according to a statement issued on Thursday.

The minister, who is also a member of the Senate, said that Pakistan’s economy is on the right track and macroeconomic indicators have started showing good results. The first year of the government exhibited good fiscal performance and lending institutions are confident about the country’s economy, despite recent hiccups on the political front in the last 50 days, said Dar.

The incumbent government is actively working on the subject of electoral reforms as the same is part of its manifesto, Dar was quoted as saying. He said that national and international observers have lent credence to the last general elections and the government is hopeful that the current issue of sit-ins would be resolved soon through political dialogue.

On economy, the finance minister commented that during the last year the economic indicators remained positive. GDP growth touched 4% after six years; revenue growth is at 16 % as compared to previous 3% while remittances have gone up to 13.7% and as a result the external vulnerability is reduced, he said.

Atkinson expressed her satisfaction over the positive trends exhibited by Pakistan’s economy during the last 12 months and said that she was looking forward towards the Pak-US Economic Working Group meeting.

She pledged her all out support to Pakistan for the IMF programme and hoped that Pakistan’s foreign exchange reserves would attain a desirable level and Pakistan would overcome its energy shortfall and tariff hiccups.

During the meeting Dar apprised Atkinson about the successful meeting on Diamer-Bhasha Dam and said that the participation in the conference was diversified with US investors and financial institutions showing keen interest.

The US adviser appreciated the exchange of delegations and expertise between the two countries in the technological and information technology areas and stressed upon making the bilateral investment treaty a complete success.

Published in The Express Tribune, October 10^th, 2014.