Islamabad, March 17, 2014 (PPI-OT): A delegation of US-Pakistan Business Council, US Chamber of Commerce called on Finance Minister Senator Mohammad Ishaq Dar at the Finance Ministry this evening.
The Finance Minister briefed the delegation on economic situation in the Country. He said that when the PML-N Government took over, eight months ago, the economy was in tatters. The Government had to undertake serious painful measures to bring things back on the track. He said that due to prudent measures, today, the situation is much better. Budget deficit is going down and tax revenues have witnessed 17.7% growth, in the last eight months. Inflation is under control and we are on course to achieve the targets set for the fiscal year. He said that consistency in the economic policies will be ensured for protection of investors. He added that there is a huge potential in the renewable energy and hydro carbon sectors.
Mr. Miles Young, Chairman of US-Pakistan Business Council congratulated the Finance Minister on the economic turnaround. He said that the situation in Pakistan is much better than eight months ago, when he last visited Pakistan during the general elections. He said that the international projection of Pakistan is also positive and it should stimulate American interest to the available investment opportunities. He informed that the Council is poised to make additional investments in Pakistan in the renewable energy and IT sectors. He also informed that the delegation will meet public and private entities in Lahore and Karachi to explore areas where the US investors may like to invest.
Ms. Caroly Brehm, Member, Board of Directors, US-Pakistan Council said that Pakistan has made remarkable progress in short time and her company Proctor and Gamble is expanding its business by making additional investment in Pakistan. She said that her company sees a great potential in the huge Pakistani market.
The meeting was also attended by Secretary Finance Dr. Waqar Masood, Special Assistance to Finance Minister Mr. Shahid Mahmood and senior officials of the Ministries of Finance and Commerce.
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