KARACHI, Mar 09: Federal Finance Minister Asad Umar on Saturday called for running the banking sector on modern lines to bring about an economic revolution in the country.
Addressing an event of the Pakistan Business Council (PBC) here, the minister said the present government had begun working on economic reforms. He lamented that the country lacked any clear economic development policy in the past.
Asad Umar dispelled the impression that the country's political situation was behind economic challenges, which was rather due to international situation.
He said there was room for improvement in agriculture and other sectors, adding the government was supporting all fields of economy under a comprehensive programme.
The minister said the present government had formulated a policy to enhance production capacity and exports, as increase in production would boost exports.
He rejected the claims of the Sindh government about the funds from the federal government. He said the provincial government had been disbursed funds according to the National Finance Commission (NFC) Award.
He further said a meeting of the NFC had been convened on March 29.
Later talking to reporters, he said the government had reservations on the tax amnesty scheme, however, if good recommendations were received, that would be considered.
