Govt focusing on higher GDP for better lifestyle of people: Dar
Says Pakistan is determined to funnel more money toward infrastructure and small businesses.
Finance Minister Ishaq Dar says the government is fully focused on higher GDP growth that brings a better life and per capita income to people and provide job opportunities.
In an interview with financial newspaper "The Nikkie" on Monday, he said that his government will focus on generating 6% gross domestic product growth.
He said Pakistan is determined to funnel more money toward infrastructure, small businesses and the poor, and the government has found an array of international partners to make it happen.
He said The Pakistan Infrastructure Bank will provide financing for infrastructure projects by the private sector and the bank is expected to have paid-up capital of one billion dollars.
Ishaq Dar said with partnerships with the U.K.'s Department for International Development and the German government-owned development bank KfW, we have created the Pakistan Microfinance Investment Company. He said this entity's three-year business plan calls for boosting the number of beneficiaries of microfinance from the current 4 million to 10 million.
To a question, he said Islamabad has also established a Pakistan Development Fund, which will invest in public-sector projects outside the budget. He said the government's initial investment comes to 1.5 billion dollars.
He said power infrastructure is a top priority and 25 thousand megawatts worth of thermal, hydro and renewable projects are in the pipeline, with 10 thousand megawatts to come on stream by March next year.
Finance Minister said the government is hoping for over 5 percent growth for the current fiscal year, noting that the "World Bank is projecting 5.2% in 2017 and 5.5% next year.
Replying a question about Pakistan's relationship with the new U.S. administration, Pakistan has held appositive and productive meetings with the officials of Trump Administration and he hoped successful outcomes in the future.