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Govt focuses on current debt situation and accepted the challenge: Sardar Ayaz Sadiq 

ISLAMABAD, June 21(APP): Federal Minister for Economic Affairs, Sardar Ayaz Sadiq  Tuesday said  the government had focused on current debt situation and accepted the challenge.

The Ministry of Economic Affairs, in collaboration with United Nations Development Programme (UNDP), organized a high-level seminar to initiate policy discussion and generate recommendations for the government, Sardar Ayaz Sadiq, warmly welcomed all the participants including policy advisers, representatives of government, members of financial institutions, UN agencies and foreign development partners to deliberate on the current economic situation of the country and to propose sustainable solutions.

During his address, the minister highlighted that the seminar aimed at deliberating the existing and regional economic scenarios with relevance to Pakistan and was focused on current debt situation and challenges posed by it.

Mian Asad Hayaud Din, Secretary, Ministry of Economic Affairs, in his closing remarks, thanked United Nations Development Programme (UNDP), UN Wing of the Economic Affairs Division, guest speakers, experts, resource persons, and audience for attending the policy seminar.

He apprised that since 1950, Pakistan has received $184 billion of Foreign Economic Assistance (FEA) in the form of loans and grants from multilateral and bilateral development partners as well as from international financial and capital markets.

Out of total FEA, the share of loans was around 89% ($164 billion) and grant was 11% ($21 billion).

The policy seminar was further proceeded by various presentations by numerous Economy Experts on ‘Global and Regional Overview and Potential Solutions’ by Chief Economic Advisor at UNDP and ‘Fact Sheet on Pakistan Debt’ by Director General Debt Management Wing of Finance Division.

 

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