APS News Agency Associated Press Service
ISLAMABAD:(APS) September 26, 2015-Finance Minister Muhammad Ishaq Dar met Deputy Secretary Treasury, Sarah Bloom Raskin in Washington and apprised her about the remarkable turnaround of Pakistan economy in a short span of two years. Senator Dar stated that the resurgence of Pakistan economy was recognized by global financial institutions and rating agencies. He specifically mentioned the sharp decline in inflation and Fiscal Deficit, enhanced GDP growth and record increase in Foreign Exchange Reserves and Home Remittances. Finance Minister highlighted that the successful issuance of $500 million Euro Bonds in the most difficult and volatile global stock and Bond Markets is a reflection of confidence of global investors in Pakistan economy.
Finance Minister reassured the Deputy Secretary that Government was committed to pursue reforms undertaken and planned in the energy and growth sectors. He explained the government roadmap of overcoming the existing energy shortages in medium and long terms. Finance Minister reiterated government’s desire for enhanced access to US markets especially for textile products as the government of Prime Minister Nawaz Sharif believes in trade not aid as a solution to consolidate the gains in the macroeconomic indicators. He elucidated that promoting international trade and investment is the pivot around which Pakistan seeks to devise its inclusive economic growth and poverty alleviation strategies.
Finance Minister also shared the details of successes of Armed Forces during Zarb-e-Azab operation in Pakistan and National Plan for dignified return and rehabilitation of Temporarily Displaced Persons to their homes.
Deputy Secretary Raskin complemented Finance Minister on the successful issuance of Euro Bonds which clearly showed investors’ great confidence in resilience and direction of Pakistan economy. She observed that Pakistan Economy has potential of enhanced growth in line with other economies of the region. Furthermore she congratulated Finance Minister on successful conclusion of 8th review of IMF Program at management level. She expressed hope that Pakistan Government will complete its reform program in order to further put the economy on sound footing. She also praised the way Pakistan Government and Parliament swiftly moved after December 2014, terrorist attack on Army Public School Peshawar and came up with a comprehensive National Action Plan to combat terrorism.
Finance Minister Dar and Deputy Secretary Raskin also discussed the current globalb and President Obama’s subject of climate change and future roadmap in respect thereto.