Finance
Minister, Senator Mohammad Ishaq Dar chaired a meeting at the Ministry of
Finance on Wednesday and received a briefing
from Governor State Bank of Pakistan (SBP), Mr. Tariq Bajwa, and Finance
Secretary, Mr. Shahid Mahmood relating to participation of Pakistan’s
delegation in the recently concluded Annual Meetings of the World Bank and IMF.
During
the briefing to the Finance Minister, Governor SBP said that the World Bank and
IMF were informed by the Pakistani side that the government is focused on
maintaining the economic stability achieved during the last four years, and
attaining higher economic growth. He said that the measures being taken by the
government to manage the current account deficit and strengthen the external
account position were also conveyed during the meetings, including the Prime
Minister’s Package of Incentives for Exporters and policy options being adopted
to manage imports.
The
Finance Secretary briefed the Finance Minister on the discussions held with the
World Bank during the annual event. He said that the opportunity was utilized
to hold in-depth discussions on various matters such as further economic
reforms as well as Bank-supported development projects. He said that the
delegation also held productive meetings with ratings agencies, banks and
investors on the side-lines of the Annual Meetings regarding Pakistan’s
economy.
Minister
Dar expressed satisfaction at the participation and contribution of the
Pakistani side during the Annual Meetings. He welcomed World Bank’s
clarification relating to Pakistan’s external financing requirements, and said
that the matter had caused unnecessary commotion. He said that the government
is focused on achieving higher, sustainable and inclusive economic growth, in
order to capitalize on the hard-earned macroeconomic stability of recent years.
In this regard, he highlighted the strong fiscal performance during the first
quarter of the current fiscal year. He stated that Pakistan’s external
financing needs are at a sustainable level, and external inflows are expected
to be sufficient to meet repayment obligations.
Senior
officials of the Ministry of Finance also attended the meeting.
******
