Long-term structural reform programme being pursued: Gilani

Prime Minister Yousuf Raza Gilani on Monday said the government is pursuing a long-term structural reform programme to put Pakistan on a trajectory of sustainable economic growth and development. He highlighted the positive trend in the national economy as a result of steps taken by his government like substantial increase in exports, record home remittances and all-time high foreign exchange reserves, which he said, were reflective of the sound economic fundamentals of the country.
The Prime Minister underlined that despite Pakistan''s current economic difficulties, his government will remain steadfast in its commitment to introduce and implement reforms. In this connection, he added, the government team is meeting the opposition to evolve political consensus on resource mobilisation and long-term national economic strategy. He was talking to a three-member IMF delegation led by Masood Ahmed, Director IMF for Middle East and Central Asia.
Referring to the progress of the government''s economic reforms agenda, the Prime Minister said the RGST had already been introduced and passed through the Senate and intensive consultations were now being held with the major political parties of the country to build the national consensus for their passage through the National Assembly. He said the State Bank Amendment Bill has been passed while Banking Companies Ordinance is now under consideration of the National Assembly.
The Prime Minister said the government is restructuring the public sector corporation to convert the loss-earning enterprises into a viable and profit earning entities which will also help cut down expenditure on subsidy to these corporations. He said the government had achieved macroeconomic stability despite the global recession and war on terror but the devastating floods have compounded the economic difficulties. He pointed out that Pakistan is single-handedly catering for 3.5 million Afghan refugees without any help from the international community. He urged the Friends of Pakistan to honour their commitments. He added that the flood victims cannot be made to wait for their early rehabilitation. He said as far as the government of Pakistan was concerned, it had already drastically cut its development and non-development expenditure to divert the resources for providing relief to the flood victims.
The Prime Minister said after the enactment of 18th Constitutional Amendment, the provincial governments'' role in financial discipline has increased manifold. He further said while the government of Pakistan was implementing the economic reform programme in the interest of the country, the IMF should continue to help Pakistan to overcome economic challenges.
The director said the IMF supports Pakistan''s direction to bring in financial discipline. He thanked the Prime Minister for his time and appreciated his resolve to implement economic reform agenda. The meeting was also attended by Finance Minister Dr Abdul Hafeez Shaikh, Minister of State Hina Rabbani Khar, State Bank Governor Shahid H Kardar, Dy. Chairman Planning Commission, Dr Nadeem ul Haq, Assistant Director IMF, Adnan Mazaeri, Senior Resident Representative IMF in Pakistan, Paul Ross, secretary and the FBR Chairman.-PR