Adviser to PM on Finance meets representatives of foreign banks

Adviser to Prime Minister on Finance, Miftah Ismail held a meeting with senior representatives of various foreign banks based in Pakistan, here on Thursday.

The adviser shared his views on the current state of Pakistan's economy and said that despite challenges, PML-N government was well on course to achieve the growth target of 6%. He said that the government is committed to contain the fiscal deficit with steady increase in revenue as well as a prudent spending policy. The revenue collection by Federal Board of Revenue was constantly improving and it is on course to achieve the revenue target. He said the rising trend in exports was really encouraging and it is expected that the current account gap would narrow down in the last few months of the financial year.

The Adviser said that the Government had undertaken a number of energy projects which had helped resolve the issue of power shortage in the country and in coming months the situation would further improve with new power stations becoming functional. He said smooth supply of energy to different industries was having a positive impact on economy and spurred economic and trade activities.

The Adviser on the occasion also shared with the official, details of the recent developments in the context of FATF meeting in Paris. He said that Pakistan had already taken a number of measures to prevent terror financing and would continue to do so in its own national interest. He said that such efforts would continue with the active help and support of the financial sector of Pakistan. He said that in the last few years Pakistan had worked with the international community to improve its legal framework and the policy ofengagement would continue with a view to address certain misperceptions.

Representatives of various foreign banks expressed appreciation of the steps taken by the PML-N Government for strengthening of the economy and said banks would keep playing their due role in the country's economy.