Strategy being evolved for revival of national economy: PM
Mian Nawaz Sharif has welcomed criticism to the government policies.
Prime Minister Nawaz Sharif says a comprehensive strategy is being hammered out for the revival of national economy.
Addressing special meeting of the Cabinet in Islamabad on Wednesday‚ he said the Government was compelled to take loan from the IMF due to wrong policies of the previous regions.
He said India has come out of the IMF programme and hopefully Pakistan will also follow the suit.
The Prime Minister said projects are being launched to generate inexpensive electricity through coal‚ wind‚ hydel and solar resources to overcome energy crisis.
Nawaz Sharif said Japan International Cooperation Agency has committed up to two billion dollars for Karachi Circular Railway Project.
The Prime Minister also welcomed criticism to the government policies.
Briefing the federal cabinet and newsmen Finance Minister Ishaq Dar said due to the government's economic measures in six months‚ budget deficit has reduced from 8.8 to 8.2 per cent.
He said that on the directives of the Prime Minister forty percent budget of his office‚ while thirty per cent of all ministries and affiliated departments was reduced discretionary funds of the Prime Minister and all ministers were also abolished‚ to save 40 billion rupees annually.
The Finance Minister said the government cleared the circular debt of four hundred eighty billion rupees within forty five days after coming into power. This resulted in the addition of 1700 MW electricity in the National Grid. He dispelled the impression that notes were printed to pay circular debt.
Ishaq Dar vowed to increase country's foreign reserves up to sixteen billion dollars in twelve months after entertaining current account deficit.
The Finance Minister said that after getting GSP Plus status‚ exports of the country are expected to increase by 1.5 to 2 billion dollars. He said 800 million dollars from Etisalat will soon be recovered.