Summary The fiscal deficit has reduced to 5.2 percent, tax collections increased by 16 percent, says PM
LAHORE (Dunya News) – Prime Minister (PM) Nawaz Sharif has said that Pakistan is centre to developmental activities in the region and that it is need of the time to promote trade through highways and railways. He has said that Pakistan’s economic situation has improved because of the government policies.
The PM expressed these views in a meeting with Pakistan-German Business Forum on Monday during his visit to Germany.
PM Nawaz said that the remittances from expatriates have increased and that the foreign exchange has risen to 14 billion. He said that we would sustain economic development of the country and that hurdles in development of the private sector would be cleared.
The PM further said that in 1959, a trade agreement was signed between Pakistan and Germany and that today Germany is Pakistan’s 4th biggest trade partner. He also expressed a resolve to convert Pakistan-German Business Forum to Chamber of Commerce.
Nawaz Sharif said that Pakistan wants to progress in all sectors alongwith other nations of the world and that it has the basic infrastucture and manpower to do so.
He said that the fiscal loss has reduced to 5.2 percent and that tax collections have increased by 16 percent per anum.
He was confident that private sector partnership would lead to economic prosperity. He also said that there are ten ongoing projects in Gadani (Karachi) which would produce electricity from coal reserves and that we want to make Pakistan a gateway to energy and trade in the region.
He also said that measures are being taken to minimise electricity theft and to improve the system. He said that we are working to compensate energy crisis by producing electricity from hydal and solar energy. He said that Diamer-Bhasha Dam and Dasu project would produce around 9,000 Mega-Watt (MW) electricity.
