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Govt striving to get access to US markets: Dar

Govt striving to get access to US markets: Dar

ISLAMABAD: Federal Minister for Finance, Ishaq Dar said that Prime Minister had stressed American leadership to provide access to its markets for boosting trade activities. International economic rating agencies are expressing positive outlook of country’s economy. Investment activities in the country would provide employment opportunities to the people.

He expressed the hope that Pakistan would soon become 11th biggest economy due to comprehensive measures taken by the government. PML-N government had inherited $9 billion loan from previous regimes, which had to be returned.

He said that the government had taken loans from International Monetary Fund to pay the installments for saving the country from becoming defaulter. Country’s loan was Rs2,946 billion till 1999, but in previous regimes it piled up to more than Rs. 12,000 billion.

Prime Minister Muhammad Nawaz Sharif was committed to put the country in right direction, he said and added that budget was made according to the economic agenda of Pakistan Muslim League Nawaz (PML-N).

The minister said that PML-N government was adhering to the policy of austerity as Prime Minister’s discretionary funds were stopped and about 40 percent expenditures of Prime Minister’s House were also reduced in this regard.

Ishaq Dar said that country’s economy was heading towards recovery, adding that during previous months, prices of 33 basic commodities were sustained, prices of 7 items were reduced while increase was witnessed in prices of 13 items.

He said that about 8500 MW electricity would be included in national grid station during the next year as the government was working on mega power projects. He said that construction of two mega water sector development projects including Dasu and Diamir Bhasha dams would help overcome energy crisis and water shortage in the country.