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APP Pakistan

Published Date: Dec 12, 2013

Donation to PM’s Fund for Affectees of Earthquake in Balochistan

Minister
for Finance, Muhammad Ishaq Dar here on Thursday said that the European
Union has granted Generalized Scheme of Preferences (GSP) Plus status
to Pakistan which would greatly help the country to boost its
export.Addressing the concluding session of 3-day 16th Sustainable
Developmentm Policy Institute (SDPI) Conference, he said that to sustain
dwindling national economy, government has taken some unpopular and
difficult steps. Due to these measures and prudent polices of the
government economic indicators were showing positive signs where as the
foreign investors confidence to invest in Pakistan was also restored.

He said due to corrective
measures taken by government, budget deficit has been brought down to
2.2% equal to Rs 570 billion compared to  2.9% equal to Rs 690 billion
last year.

The minister said revenue collection witnessed 17 percent
growth adding that FBR has collected a tax revenue of Rs 792 billion as
against Rs 679 billion realized by FBP up to November 2012 (last year).

Ishaq
Dar said that the government during the first quarter of the current
financial year has released Rs 143 billion against the total allocation
of Rs. 340 billion under Public Sector Development Programme (PSDP).

The
minister said that figures regarding national economy would be
announced on quarterly basis and made public to know about the
performance of the economy.

He further said that exchange rate
stability was gradually returning as exchange rate had improved during
last days adding that government was determined to bring foreign
exchange reserves up US$20 billion by the year 2016.

The government
was closely monitoring the inflation and taking steps to bring it to
single digit to provide maximum relief to a common man in the country,
he added.

Besides, he said that government has also enhanced
allocation for social safety network and was bringing about 5.5 million
families in social safety net by increasing the stipend money from Rs.
1000 to Rs. 1200.

The Minister said that IFC has announced trade
financing facility of ($ 500 million) while Global rupee bond, Euro Bond
$ 500 million would be launched and Financial Advisor (FA) in this
regard would be appointed shortly.

He added that the second tranche of US $137 million from Islamic Development Banks (IDB) has been received.
The
minister said that government was working on different power sector
development projects to overcome the energy issues for rapid economic
development adding that work on Nelum Jehlum Hydro Project was
excalreated and expected to complete by 2016.