PID

PR No. 38 Finance Minister appreciates SBP role in economic management Islamabad: September 5, 2016.

Senator Muhammed Ishaq Dar, Federal Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, showed his satisfaction over the progress made in the economy and successful completion of the IMF program. He lauded the team work between Ministry of Finance and SBP. SBP has played a very constructive role in the successful completion of the IMF program meeting the performance criterion and carrying out reforms agreed under the program, Senator Dar said. He was addressing a meeting of senior management of the SBP attended by the Governor Mr. Ashraf Mahmood Wathra, Deputy Governor Financial Markets, Islamic Banking and Special Initiatives Mr. Saeed Ahmed, Deputy Governor Policy Mr. Riaz Riazuddin and executive directors of the Bank.

The Finance Minister expressed his comfort on the smooth working of the financial markets particularly in the backdrop of the launch of electronic Import Form (I-Form) effective 1st September, 2016. He said that the implementation of I-Form will help significantly in proper documentation of imports and deter pilferages. He advised that there should be no delay in the implementation of the scheme; however, any deserving case should be looked at individually.

While appreciating the efforts made by SBP in spreading the Islamic Banking services in the country, the Finance Minister reiterated his government’s strong commitment towards promotion of Islamic banking in the country. He termed the announcement of the high level Implementation Committee at the World Islamic Finance Forum arranged by the Center of Excellence in Islamic Finance of IBA (CEIF-IBA) as a milestone in promotion of Islamic banking and finance in Pakistan. He also stated that efforts made by SBP in spearheading Financial Inclusion Strategy would benefit the deprived sector of the society and help alleviate poverty.

Earlier, the Governor thanked the finance minister for his visit and said that the progress of the economy essentially reflects good coordination between the government and various state institutions. SBP is always prepared to contribute as much as possible in the inclusive economic growth and shared prosperity, the Governor said.

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