ISLAMABAD, June 10 (APP): Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh Monday reiterated Government resolve for ensuring micro economic stability in the country and will address long drawn- out basic issues on priority basis.
Addressing the launching ceremony of Pakistan Economic Survey 2018-19 here at Planning Commission the Dr Abdul Hafeez Shaikh further said that government had already undertaken many difficult measures to improve micro-economic situation.
He added that exports sector plays an important role in economic development but our exports remained stagnant for a decade. The reforms that should have been taken were ignored for decades while the basic prerequisites for enhancing exports were not fulfilled, he added.
The Adviser said that we are facilitating export sector and committed at reducing import bill by imposing taxes on imports of luxury items.
We also would announce further steps in the budget (2019-20), scheduled to be unveiled on Tuesday, to address specific economic issues of the country, he added.
The adviser further said that “Currently, we are working on stabilization policy. When this phase ends, we will work on the policies that will improve growth numbers,” the Advisor said here at the launching of Pakistan Economic Survey for the outgoing fiscal year (2018-19).
The Advisor opined that the current economic situation had emerged due to ignoring the basic issues by previous regimes that did not focus on resolving the problems like current account and fiscal deficits. Hafeez Shaikh was accompanied by Advisor to the Prime Minister for Commerce, Textile, Industry and Production Razak Dawood, Federal Minister for Power Division and Petroleum Umar Ayub, Chairman Federal Board of Revenue (FBR) Syed Muhammad Shabbar Zaidi and top officials of Ministry of Finance.
Source: VNS Islamabad
