Finance Minister Asad Umar on Tuesday (Nov 4), while addressing 11th South Asia Economic Summit said that with the assistance of friendly countries, we have successfully overcome the economic crisis adding that “financing gap for the current fiscal year has been plugged and the fruits of the government’s vibrant economic policies will soon be visible”.
He said “those spreading rumours about the economy are not doing any favor to the country”. “The state bank’s neutrality is intact and we believe in this.. there is no change in policy of the PTI government, SBP would remain autonomous.” “The decision regarding the exchange rate was taken by SBP and it would continue to take such decisions” Umar stated further.
Referring to economic cooperation with other SAARC countries, the finance minister expressed his disappointment by the attitude shown by India. “The response from the Indian side is unfortunate, we hope that this SAARC cooperation will be strengthened in the future.” “We really need to think out of the box solutions, amid tensions and political confrontations between the two states,” said Umar.
“Our ability to meet the need of the people and getting people out of poverty depends on promotion the intra-regional trade and taking steps in the right direction”. “We can create political space for this to happen, the solution has to come from policy experts and through conferences such as this,” said Umar, adding that, leaders need to take bold decisions. “For a peaceful and prosperous South Asia, we need to cooperate with each other,” reiterated the finance minister.
Referring to the recent opening of the visa-free Kartarpur corridor, he said “Pakistan is hopeful for a positive response from India,” Umar said while again reiterating on Pakistan’s willingness to engage India in dialogue for resolution of outstanding issues.
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11 December, 2018