farhan_9909
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ISLAMABAD: Finance Minister Ishaq Dar announced on Tuesday a 14-point ‘future roadmap’ aimed at achieving over seven per cent growth by 2018 and making Pakistan a globally competitive and prosperous country with particular emphasis on macroeconomic stability through inclusive growth.
Speaking on the final day of an international investment conference in Islamabad, the finance minister said that to achieve the growth rate it was necessary to address poverty incidence and unemployment while improving socio-economic indicators, including health and education.
Also read: Dar blames sit-ins for deteriorating investment environment
Other main features of the roadmap are: containing inflation to single digit; bringing down fiscal deficit to 4pc; increasing foreign exchange reserves to $22 billion, investment-to-GDP ratio to 20pc and industrial sector growth by 8pc; bringing down public debt to 55pc of GDP; increasing tax-to-GDP ratio to 15pc and exports to $32 billion; spending 4pc of GDP on education and health sectors; alleviating poverty and supporting vulnerable sections of society; reducing power outages and meeting the shortage of natural gas with enhanced supplies through increased exploration and production as well as through imports.
He assured foreign investors that his government would neither tolerate any obstruction in investment nor allow anyone to play negatively with the country’s economy and its “bright future”.
Plan to achieve over 7pc growth by 2018
“National interest is supreme and the government will pursue economic development no matter what the impediments are,” he said, adding that the country’s constitution, laws and governance structure protected foreign investment and the Board of Investment would continue to facilitate investors as “one stop shop”.
The finance minister said the government was focussing on improving investment climate in the country through implementation of Investment Strategy 2013-17 that hinged upon main pillars of public-private sector dialogue for policy formulation, FDI generation and promotion campaign, investment facilitation, development of special economic zones (SEZs) and coordination networks with stakeholders.
He said Pakistan had successfully tapped international markets after a gap of seven years by issuing Euro bonds worth $2 billion and now the government was working on the $1bn international Sukkuk.
At the same time, he said, the government had revived and resumed the privatisation programme. After disinvesting UBL shares worth about $400 million and PPL with a subscription of Rs15.3bn, the privatisation programme is now moving to disinvest OGDCL shares worth about $800 million.
The finance minister regretted that the economic recovery nurtured since June last year got undermined over the past three months because of long marches and sit-ins. The losses suffered on account of the sit-ins include depreciation of the rupee by 4pc which results in the loss on foreign liabilities, volatility in the stock market, delay in completion of fourth review under the IMF programme, decline in foreign exchange reserves because of delay in inflows of around $2.4bn and postponement of four high-profile foreign visits, including the one by the Chinese president, thereby eroding the confidence of investors.
Published in Dawn, October 29th , 2014
Dar unveils 14-point economic roadmap - Pakistan - DAWN.COM
=======================================
BS
32Billion dollars export by 2018?really?Just 6Billion dollars increase in almost 4 years?
22Billion dollars reserves?
Speaking on the final day of an international investment conference in Islamabad, the finance minister said that to achieve the growth rate it was necessary to address poverty incidence and unemployment while improving socio-economic indicators, including health and education.
Also read: Dar blames sit-ins for deteriorating investment environment
Other main features of the roadmap are: containing inflation to single digit; bringing down fiscal deficit to 4pc; increasing foreign exchange reserves to $22 billion, investment-to-GDP ratio to 20pc and industrial sector growth by 8pc; bringing down public debt to 55pc of GDP; increasing tax-to-GDP ratio to 15pc and exports to $32 billion; spending 4pc of GDP on education and health sectors; alleviating poverty and supporting vulnerable sections of society; reducing power outages and meeting the shortage of natural gas with enhanced supplies through increased exploration and production as well as through imports.
He assured foreign investors that his government would neither tolerate any obstruction in investment nor allow anyone to play negatively with the country’s economy and its “bright future”.
Plan to achieve over 7pc growth by 2018
“National interest is supreme and the government will pursue economic development no matter what the impediments are,” he said, adding that the country’s constitution, laws and governance structure protected foreign investment and the Board of Investment would continue to facilitate investors as “one stop shop”.
The finance minister said the government was focussing on improving investment climate in the country through implementation of Investment Strategy 2013-17 that hinged upon main pillars of public-private sector dialogue for policy formulation, FDI generation and promotion campaign, investment facilitation, development of special economic zones (SEZs) and coordination networks with stakeholders.
He said Pakistan had successfully tapped international markets after a gap of seven years by issuing Euro bonds worth $2 billion and now the government was working on the $1bn international Sukkuk.
At the same time, he said, the government had revived and resumed the privatisation programme. After disinvesting UBL shares worth about $400 million and PPL with a subscription of Rs15.3bn, the privatisation programme is now moving to disinvest OGDCL shares worth about $800 million.
The finance minister regretted that the economic recovery nurtured since June last year got undermined over the past three months because of long marches and sit-ins. The losses suffered on account of the sit-ins include depreciation of the rupee by 4pc which results in the loss on foreign liabilities, volatility in the stock market, delay in completion of fourth review under the IMF programme, decline in foreign exchange reserves because of delay in inflows of around $2.4bn and postponement of four high-profile foreign visits, including the one by the Chinese president, thereby eroding the confidence of investors.
Published in Dawn, October 29th , 2014
Dar unveils 14-point economic roadmap - Pakistan - DAWN.COM
=======================================
BS
32Billion dollars export by 2018?really?Just 6Billion dollars increase in almost 4 years?
22Billion dollars reserves?