ISLAMABAD
Finance Minister (F.M) Muhammad Aurangzeb has said Pakistan is heading towards partnership based on trade and investment instead of aid.
“Basic change has come in economic strategy of the country. Now Pakistan focus is not on aid but it is placed on promoting trade and investment, he said this in an interview.
Pakistan has achieved economic stability during the last 18 months. The inflation has reduced from 38 percent to single digit during this period.
Pakistan has achieved primary surplus under fiscal discipline. Current account deficit has remained within set targets. Foreign exchange reserves have improved considerably.
International credit rating agencies have upgraded rating and outlook of Pakistan.
The second review second IMF extended facility program has been approved. Tax to GDP ratio is growing. Government is integrating real estate, agriculture and whole sale and retail sectors into tax net.
Terming reforms in energy sector and decrease in circular debt government priority he said the industry will be made competitive by bringing reforms in electricity tariff.
Talks are underway for creating new opportunities for trade and investment in Gulf states. Pakistan has moved ahead in regard to free trade agreement with these countries which is in final phase.
Pakistan future is linked to trade and investment and not to aid. This strategy is vital to stabilize and make durable national economy.
