Govt to set economy on path of sustainable, inclusive growth: Dar

F.P. Report

ISLAMABAD: Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Saturday said that the government is committed to set the economy on sustainable and inclusive growth path by taking pragmatic steps to resolve bottlenecks to growth.

The minister held a meeting with Country Director, World Bank Najy Benhassine, and his team at Finance Division here, said a press release.

The minister also shared economic challenges that the country is currently facing and said that the present government is cognizant of these issues and taking steps to resolve hurdles to achieve sustainable economic growth. He also informed about the devastations caused by the recent floods in the country.

Country Director, World Bank extended felicitations to the Finance Minister on assuming the charge of the office and briefed on existing programmes and future cooperation of the World Bank for Pakistan.

He informed the Finance Minister that the Bank is allocating $2 billion funds from existing World Bank financed projects for emergency operations in flood affected areas to support Pakistan. He further informed that around $ 1.5 billion funds would be mobilized this year due to emergency situation.

Senator Ishaq Dar appreciated the World Bank for being a source of support in pursuing reform agenda and implementing various development projects for the country.

He further said that Pakistan values the financial and technical support provided by the World Bank for the institutional reforms and economic development of the country.

The minister assured Najy Benhassine and his team of meeting prior actions for timely completion of programmes and thanked them for their continuous support and facilitation.

British High Commissioner calls on Finance Minister: British High Commissioner Dr Christian Turner Saturday called on Minister for Finance and Revenue Senator Mohammad Ishaq Dar and exchanged views on matters of common interest.

The minister briefed the British High Commissioner about devastation caused by the recent floods in Pakistan, said a press release issued by the Ministry of Finance.
The minister underscored that Pakistan had long historic ties with the United Kingdom and relations between the two countries needed to be further expended for the mutual benefits of the two sides.

He also briefed the envoy about economic agenda and priorities of the government and said that present government aims to bring about economic and fiscal stability leading to economic recovery and growth.

Speaking on the occasion British High Commissioner extended his felicitations to the Minister on assuming his new responsibilities.

He expressed sympathy on the destruction caused by the floods and said that the UK stands with Pakistan in this difficult time and apprised on the humanitarian support provided by the UK government to Pakistan for flood relief. He further extended full support of the British government and British people for the government in Pakistan.

Finance Minister Ishaq Dar thanked the British High Commissioner for extending flood relief support to Pakistan.

Dollar to below Rs 200 in days: Finance Minister Muhammad Ishaq Dar on Saturday said, Rupee has regaining strength against dollar since his arrival and dollar will fall below Rs 200, because it is not its real value.

Talking to a private TV channel, Finance Minister said country’s macroeconomic indicators has surely lots of problems but this economic mess was inherited from Imran Khan led government that left us on the verge of bankruptcy.
Finance Minister said that his first goal was to stop declining economic terms and then reverse these terms because they all are interconnected.

He further said, “the Pakistani rupee has been manipulated in near past. Individuals, some institutions and few banks were also involved in that game. Those player damaged country for the sake to earn a few billion rupees.”
Minister said that coalition government was doing its best to help the lower class of the country.

The government has been disbursed 92 percent of total allocated aid around 50 billion Rupees among flood affectees through Benazir Income Support Programme (BISP).(APP)