Nawaz reaffirms commitment to achieve higher growth rate

ISLAMABAD, Pakistan: Prime Minister Nawaz Sharif has said that the federal government is committed to achieve higher growth rate, contain fiscal deficit and address structural issues.

In a meeting with the Director Middle East and Central Asia Department at the International Monetary Fund (IMF) Headquarters Masood Ahmed who called on him in Islamabad on Thursday, the prime minister appreciated the role of IMF in assisting Pakistan to achieve economic stability and said that the Fund program is on track for completion for the first time in the history of the country.

Nawaz Sharif noted with satisfaction that during the last two and a half years, Pakistan has been moving towards sustainable growth.

The prime minister said that the government has achieved robust economic growth in the wake of improved medium-term growth outlook; sustainable fiscal and external positions. He said that liberalization of trade regime and improved business climate have attracted foreign as well as local investors to invest in diverse fields in the country.

Sharif said that increase in tax revenue and Foreign Exchange Reserves well over $20 billion, resolution of energy issues including electricity tariff rationalization and reforms in the gas sector have significantly contributed towards economic stability in the country.

The premier said that the confidence of the international financial markets in Pakistan’s positive economic outlook is a proof of our successful march on attaining long term economic stability. He said that the ultimate aim of the present government behind all these endeavours is to improve the standard of living of our citizens.

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To this end, the government is also pursuing its development agenda simultaneously for creation of economic activities and generation of employment opportunities leading to reduction in poverty, he added.

In his remarks, Masood Ahmad appreciated the economic turnaround achieved by the present government and said that the development agenda being pursued by the government would further consolidate the gains achieved so far in Pakistan’s economy.

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