ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Wednesday invited the Belarusian investors to take advantage of the investment-friendly and growth-oriented policies which offered full legal protection to their investment with immense potential to excel in various sectors.
The Prime Minister said his government was pursuing its objectives of achieving fast-track progress through consistency and continuity of growth oriented policies and strengthening of the institutions.
Addressing the Pakistan-Belarus Investment and Business Forum here, he said the government was also enabling completion of mega development projects on fast-track basis.
The Prime Minister said when his government was elected during 2013, there were three major challenges; power shortage with debilitating economic effects, economy was on the down turn and law and order situation coupled with terrorism.
But in the last three years, his government had made significant progress in all these areas, he said, adding the government’s economic team strived and achieved a complete turnaround and within three years, the tax returns reached to 60 per cent.
He said by slashing extra expenditures, budget deficit was brought to half and the country’s growth rate reached to an average of 4 per cent, while in the current year, it was hovering around 4.7 per cent.
The Prime Minister said his government was cognizant of the fact that in order to fight the menace of poverty and unemployment, this growth rate required to be accelerated and that was why the country achieved the macro-economic stability.
The inflation rate was brought down by 3 per cent the lowest in country’s history in the one and half decade whereas the interest rate was also recorded as the lowest in last forty years, he added.
The Prime Minister referred to strides made by the Pakistan Stock Exchange, saying that it had been the best performing market in the world.
The Government had successfully completed its 3-year programme with the International Monetary Fund (IMF), he said, adding the IMF had expressed its satisfaction over the government’s reforms programme.
The Prime Minister said the international publications and rating companies had also acknowledged the government’s economic and development programmes.
He noted that still further steps were required to increase the bulk of investment and export. The economic teams led by dynamic minister Ishaq Dar was comprehensively working on a package to revive the export prospects.
The Prime Minister also reiterated that Pakistan was a peace loving country and committed to live in peace and dignity with all the regional countries and the world.
Pakistan had condemned the terrorism in all its forms and manifestations in any part of the world, he said, adding that he had firm belief that peace would usher in progress and development of the region.—APP
