Media Coverage

Finance Minister Ishaq Dar on Thursday said the European Union has granted Generalised Scheme of Preferences (GSP) Plus status to Pakistan, which would greatly help the country boost its export.
Addressing the concluding session of three-day 16th Sustainable Development Policy Institute (SDPI) Conference, the minister said to sustain dwindling national economy, the government has taken some unpopular and difficult steps.
Due to these measures and prudent policies of the government economic indicators were showing positive signs where as the foreign investors confidence to invest in Pakistan was also restored.
He said due to corrective measures taken by the government, budget deficit has been brought down to 2.2 percent equal to Rs 570 billion as compared to 2.9 percent equal to Rs 690 billion last year.
The minister said revenue collection witnessed 17 percent growth, adding that the Federal Board of Revenue (FBR) has collected a tax revenue of Rs 792 billion as against Rs 679 billion realised by FBR up to November 2012 (last year).
Dar said that the government during the first quarter of the current financial year had released Rs 143 billion against the total allocation of Rs 340 billion under Public Sector Development Programme (PSDP).
The minister said figures regarding national economy would be announced on quarterly basis and made public to know about the performance of the economy.
He further said exchange rate stability was gradually returning as exchange rate had improved during the last few days, adding that the government was determined to boost foreign exchange reserves up to $20 billion by the year 2016.
The government was closely monitoring inflation and taking steps to bring it to single digit to provide maximum relief to a common man in the country, he added.
Besides, he said the government has also enhanced allocation for social safety network and was bringing about 5.5 million families into the social safety net by increasing the stipend money from Rs 1,000 to Rs 1,200.
The minister said International Finance Corporation has announced trade financing facility of $500 million while global Rupee Bond, Euro Bond of $500 million would be launched and Financial Adviser (FA) in this regard would be appointed shortly.
He added that the second tranche of $137 million from Islamic Development Banks (IDB) has been received.
The minister said that the government was working on different power sector development projects to overcome the energy issues for rapid economic development, adding that work on Neelum-Jhelum Hydropower Project was accelerated and expected to be completed by 2016. app