Economy to grow at four percent: Hafiz Shaikh
"Despite challenges, the GDP growth would reach to 4 percent this year," the Federal Minister said while addressing the inaugural session of Pakistan-Iran Bilateral Economic meeting here.
Shaikh said that at a time when the world economy is passing through recession, the economy of Pakistan has been showing positive signs towards growth.
He said that country's exports have crossed $25 billion figure last year are likely to grow more this year while the remittances were also on rise and the revenue targets set for the fiscal year well in the reach.
However, despite all this, he added Pakistan was facing challenges like shortage of energy adding that the government has been working to overcome the challenges and lead the country towards sustainable growth.
Commenting on Pakistan-Iran relations, he said that both the courtiers were having solid foundation of cooperation which he said needed to be further strengthened for the welfare for both the courtiers.
He said Iran is important neighbor of Pakistan and both the countries were bonded in cultural, faith, economic and historic relations. However, he remarked that the trade relations between the two countries were not up to the existing potential between the countries.
He said that bilateral trade between the two counties was just $1.5 billion which he said was very below to the potential. He said that both the countries can enhance cooperation in horticulture, livestock, energy, telecom and several other sectors of economy.
Federal Minister for Finance, Dr Abdul Hafeez Shaikh said that during the last Pakistan-Iran Bilateral Economic meeting both the countries had resolved to enhance the trade volume up to $5 billion.
He said that there was need to eliminate tariff and non-tariff barriers and provide incentives to private sector for trade development.
He said that communication links between Quetta and Taftan would also be improved to facilitate trade and movement of the people.
Besides, he added, work on Iran-Pakistan Gas Pipeline Project would also be intensified to complete the project as soon as possible.
The federal Minister expressed his gratitude for the $100 million assistance announced by Iran for the rehabilitation of flood victims.
Speaking on the occasion, Iranian Vice President for International Affairs, Ali Saeedlou said Pakistan and Iran have great potential to enhance their cooperation in various field, particularly in trade and economy.
He said Iran would help development of Pakistan adding that work on gas pipeline project between the two brotherly countries would be intensified.
He also announced $100 million support for flood victims and requested for including this in agenda to develop a mechanism for the utilization of this flood assistance.
"We are in Pakistan to assist our brethren," he said and reiterated Iranian President Mahmoud Ahmedinajad's resolve to improve brotherly relations with Pakistan.
The tops being discussed during the ongoing consultations include Iran-Pakistan Gas Pipeline project, Electricity projects, trade in meat, rice and textile, banking cooperation and currency swap arrangement, up-gradation of Quetta-Taftan Railway line, civil aviation and opening of new border post at Gadb-Reemdan and Pakistan's Cultural Center in Tehran.
Both the counties are also scheduled to discuss establishment of new consulate at Bandar Abbas, project proposals for Iranian Development Assistance, Agreement on International Road Transportation of Passengers and Good, cooperation in IT and Telecommunication, cooperation in industry.
Both the sides would also evaluate current status of Memorandum of Understandings and agreements pending between the two countries.
It is pertinent to mention here that Iranian delegation led by its Vice President for International Relations is visiting Pakistan to hold bilateral consultation on various fields of economy.