Tarin highlights govt’s key economic priorities

ISLAMABAD: Minister for Finance Shaukat Tarin has highlighted the economic priorities of the government, emphasising that Prime Minister Imran Khan was committed to inclusive and sustainable economic growth that benefits all the segments of the society, especially the poor.

Speaking at a seminar on Pakistan’s Economy, organised by the Embassy of Pakistan, Washington, DC in collaboration with the Institute of Business Administration (IBA) Karachi, the finance minister said prudent fiscal reforms had helped improve tax-to-GDP ratio, bring down the current account and fiscal deficits, while improving the revenue generation.

Increasing the tax collection and broadening the tax base were the key targets of the government’s fiscal agenda, he added.

Tarin identified priority sectors such as modernisation of agriculture, IT and industry as vital for increase in exports and said that 24 special economic zones have been created under the China-Pakistan Economic Corridor (CPEC) to attract foreign investment.

He thanked the overseas Pakistanis for sustaining the economy through high levels of remittances. The minister also shared steps taken to help the underprivileged through Kamyab Pakistan programme, which, he said, would help them achieve self-sufficiency and to realise Prime Minister Imran Khan’s vision of Riyasat-e-Madina.

Earlier, Ambassador Dr Asad M Khan welcomed the guests and gave a brief overview of the state of bilateral ties between Pakistan and the US.

He referred to the recent ministerial level exchanges between the two countries, with engagement on energy, trade, climate change and security.

IBA executive director Dr S Akbar Zaidi shared an academic perspective on the state of Pakistan’s economy.

He said academic institutions such as IBA have produced many high-quality economists and even today, IBA was grooming professionals and business executives who will play a vital role in Pakistan’s economic future.

State Bank of Pakistan deputy governor Dr Murtaza Syed briefed the audience about the steps taken by the central bank to stabilise the economy of Pakistan.

He lauded the overwhelming response of the Pakistani diaspora to the Roshan Digital Account initiative and said that there was tremendous potential for growth in remittances.

The seminar was followed by an interactive session in which the audience comprising prominent community members, professionals from international financial institutions (IFIs), academics and students from DMV area asked questions, which were answered by the finance minister.