Worker remittances increases by 25pc

ISLAMABAD: National Assembly Standing Committee on Economic Affairs & Statistics on Friday was informed that worker remittances have increased by 25 percent during fiscal year 2010- 11, however foreign private investment has reduced by 30 percent.

The Committee met under the Chairmanship of Malik Azmat Khan was also informed that exports target during July 2009-10 were 17.9 percent presently which was recorded 22.8 percent and will be increased up to 27.4 percent.

The Committee was apprised regarding the current economic conditions of the country. It was informed that real GDP growth target for the financial 2010-11 was fixed at 4.5, however 2.4 real GDP growths was achieved.

The Secretary Economic Affairs Division informed the committee that foreign reserves have reached up to US$ 18.2 billion which was higher in history of the country.

He briefed the Committee about the functions assigned to Economic Affairs Division after the implementation of 18th Amendment such a policy relating to lending/re-lending foreign loans and credits, monitoring of disbursement utilization and repayments of economic assistance foreign training scholarship for Pakistani and foreign students, matter relating to joint ministerial commissions, matters relating to Paris Club, issues relating to regional economic Cooperation Conference on Afghanistan and Central Asian Regional Economic Cooperation assigned to EAD.

He said that EAD will also look after the international matters relating to population planning, youth affairs matters UNESCO Pakistan National Commission for UNESCO and International Organization in the field of tourism.

The Secretary informed the Committee about the proposed organizational structure of Ministry of Economic Affairs. He said 14 posts of joint Secretaries, Deputy Secretaries and Section Officers have ben created with effect from 1st July 2011 to fulfill the requirements of extra work assigned to this division after the devolution of the Ministries/Divisions.

He said that EAD has requested for creation of 28 more posts for Joint Secretaries Deputy Secretaries and Section officers in this regard.

The meeting was attended by the MNAs, Arif Aziz Shaikh, Pirzada Imran Ahmad Shah, Muhammad Arshad Khan Leghari, Chaudhry Liaqat Abbas Bhatti and Sufyan Yusaf along with the officials of Economic Affairs Division and Finance Division.

Copyright APP (Associated Press of Pakistan), 2011