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COUNTRY’S ECONOMY PUT ON POSITIVE TRAJECTORY: DAR

DAR

ISLAMABAD:(APS)April 23, 2016-Finance Minister Ishaq Dar says reforms in different sectors have put the national economy on positive trajectory.

 Addressing a pre-budget seminar in Islamabad, he said tax revenue collection has increased by fifty-six percent over the last three years.

 The Finance Minister said tax net has been improved and 3100 billion rupees tax revenue target has been set for the current fiscal year.

 He said sixteen percent increase has been witnessed in remittances over the last few years. These will touch 19 billion dollars this year.

 Ishaq Dar said foreign exchange reserves have increased from 2.8 billion dollars in 2013 to 15.8 billion dollars.

 He said steps have also been taken to improve exports. Recently trade policy has been announced to bring improvement in this sector.

 He said four point five percent inflation rate last year remained below four percent this year. The Finance Minister expressed the confidence that circular debt will be cleared by July next.

 The Minister said good governance and transparency introduced by the government has also been recognized by the international agencies.

 He said micro-economic stability encouraged China to offer a package of forty six billion dollars.

 He said Pakistan has the potential to become world leader and many other countries including Italy, Qatar and Saudi Arabia are keen to invest in the country.

 Ishaq Dar said the government will focus on enhancing growth rate in the remaining term.

 He said manufacturing sector has done better in the first eight months of current fiscal year. Likewise, agriculture sector will be fully supported to push up the growth rate.

 The Minister said power projects of twenty five to twenty six thousand megawatt are in various stages of implementation.

 He said ten thousand megawatt electricity will be added to the national grid by early 2018.

 On Panama leaks, Ishaq Dar said the Prime Minister has offered his family for accountability and a letter has been written to the Chief Justice for formation of commission to investigate the matter.

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