Senior Adviser to US President and Senior Director for Economy, David Lipton along with a delegation of officials on Wednesday met with the Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh. The Adviser and his team were given a detailed briefing on the Mid Term Economic Review through a presentation. The presentation covered all the aspects and areas of current economic situation of the country.
The Pakistani side apprised the visiting delegation of the various measures, political and economic, which include the constituted Parliamentary Party's parleys with all the political parties in the Parliament on the emerging national issues as well as the economic matters.
On the economic side the recommended measures were also apprised to the Adviser including, cut in the overall federal and provincial expenditure, due to which the budget deficit has lowered from 3.2 percent to 3.0 percent. During the course of the presentation, it was also noted that the exports will cross $20 billion or $22 billion and work force remittances will touch $10 billion this year. Recommended measures for the improvement of the economy and to put it on a developing track, mentioned the revival of the IMF programme for which Pakistani side is having parleys with political forces in the country.
The foreign inflows at the moment are waiting for the passage of the IMF programme, and this will ease the pressure on domestic borrowings, the measures the government is taking include improved budget management, deferring subsidies on fertiliser, and restrictring it to Rs 30 billion for Railways and rationalisation of tariff subsidy.
Among others from the Pakistani side who attended the meeting were Minister of State for Finance and Economic Affairs, Hina Rabbani Khar, Governor of State Bank, Deputy Chairman Planning Commission, Federal Secretaries of Finance, Economic Affairs Division, Revenue and Special Secretary. And the US Adviser was assisted by Ms Robin Rafel and officials from the US Embassy.-PR
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