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Prudent policies helped revive economy: Dar

The prudent policies of the government have helped revive the country's sagging economy and internationally reputed monetary organisations acknowledged Pakistan as, "heading in the right direction". This was stated by Federal Minister for Finance, Senator Ishaq Dar while addressing as a chief guest at the 12th Businessmen Excellence Award 2013-14 organised by Khyber Pakhtunkhawa Chamber of Commerce and Industry (KPPCI) here late Wednesday night.

Governor Khyber Pakhtunkhawa Sardar Mehtab Ahmed Khan, Governor State Bank Arshad Mahmood Wathra, Chairman FBR Tariq Bajwa, Auditor General Asad Amin, President KPCCI Fuad Ishaq, President Businessman Forum Senator Ilyas Bilour, Senator Mohsin Aziz, office-bearers of Khyber Pakhtunkhawa Chamber of Commerce and Industries, high officers and leading industrialists attended the function. Addressing the ceremony, Senator Ishaq Dar said at time when PML-(N) took over charge situation was very grim as economy was in shambles besides the issues of terrorism and energy shortage. Dar said the country's foreign exchange reserves were also at a lowest level and due to prudent policies and strict austerity measures of the government, economy was improving and foreign exchange reserves have reached to a record level.

"We have reduced the annual expenditure of Prime Minister House by 40 percent and those of Federal Ministers by 30 percent. Our government strictly banned import of duty free cars for VVIPs including the President, Prime Minister, Governors and Chief Ministers. Besides we also abolished all kind of discretionary funds of President and Prime Minister", he said. "Our vision is to make Pakistan as `Asian Tiger' and we are heading to achieve our desired goal," he remarked.

He said PML(N) leadership has ensured good governance, transparency and resolution of peopels' problem as its top priorities. The government, he said wanted to fully utilise the potential of our country in shape of natural resources and hard working labour.

Federal Finance Minister said, "When Nawaz Sharif was Prime Minister in 1998, country had enough electricity of 1200 MW. We wanted to export surplus electricity at that time and India was our potential buyer. While during last one decade after 1999 military coup, the country faced electricity shortage and people had to face a lot of problems," he added.

Ishaq Dar said government was working on solid footing to overcome electricity shortfall of 4500 MW and till December 2017 about 10,500 MW electricity would be added to the system. Apart from this, he went on to say, government was also working to generate 14,000 MW of electricity to be included in the system after 2017. The ceremony was also addressed by Governor KP Sardar Mehtab Khan Abbasi.

Copyright Associated Press of Pakistan, 2015