Home Economics & Business French envoy appreciated GOP’s political vision and Economic Stabilization Plan

French envoy appreciated GOP’s political vision and Economic Stabilization Plan

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ISLAMABAD: Adviser to Prime Minister on Finance and Economic Affairs, Mr. Shaukat Tarin held a meeting with Ambassador of France, Mr. Daniel Jauanneau on Friday. Mr. Shaukat Tarin briefed the Ambassador on GOP’s Nine Point agenda that principally focuses Economic Stabilization Plan and over all restoration of economic health in view of ongoing global financial crisis that has regional overtones. Both the sides exchanged views on mattes relating to bilateral economic cooperation and expansion of trade related ties between the two friendly countries.

Currently Pakistan was working on enhancing tax-to-GDP ratio in order o meet domestic economic policy requirements. Pakistan has finalized its homegrown economic stabilization programme that has been endorsed by IMF and appreciated by Friends of Pakistan. Pakistan was working hard to gear up its domestic economic policies in a manner that (firstly) imbalances in domestic economy are addressed and (secondly) it is placed on a fast-tracked development pace, Mr. Shaukat Tarin added.

GOP was putting in place an indigenous revenue generation plan that brings all sectors of economy into tax net to increase the revenue earnings, simultaneously paying attention to education, health, and infrastructure development. Stabilization of macro-economic indicators was GOP’s another priority area. We are also bringing 7 million households into social safety net by providing them income support, health and education cover. Human resource development and skill development is another priority area. An integrated energy generation plan to meet energy requirements of commercial, domestic and industrial sectors was being put in place, Adviser added.

The discussion also focused on revamping of Planning Commission in Pakistan with an Overarching Policy Board that dynamically speeds up the implementation of all economic, development and social sector planning. Ambassador of France appreciated GOP’s political vision in fast-tracking its development agenda in sync with all stakeholders, adding that MOF may plan to meet its foreign development partners based in Islamabad in order to brief them on GOP’s ongoing economic development agenda, adding that MOF may make a presentation to zealous Pakistani investors based in Canada who were willing to be potential investors in Pakistan as he learnt it during his stay in Canada.

Adviser to PM on Finance agreed to go ahead with the proposal in weeks to come after necessary homework. Mr. Shaukat Tarin also briefed French Ambassador on rightsizing of state institutions in corporate sector in order to make them profitable units – a step that would help beef up domestic economy. Efforts were underway to shore up Pakistan’s forex reserve levels besides bringing the fiscal deficit down. Moreover, Pakistan has introduced a set of domestic policy framework to build its macro-economic indicators, Adviser explained.

Project financing was the major area wherein Pakistan and Friends of Pakistan are working together. The idea was to put in place a sustainable system of project-based development that was bilaterally beneficial to foreign investors and domestic partners, and ensure a system of development that was not lopsided. People of Pakistan, on 18th February, 2008, have mandated liberal political leadership into power that clearly reflects that people of Pakistan want to see their country, amongst comity of nations, as a liberal, progressive and fastly-developing Islamic state that pursues policies consistent with globally-accepted political norms. This was a key to Pakistan’s progress, Mr. Shaukat Tarin concluded.-SANA

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