Dar appreciates SBP’s role in economic management

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Dar appreciates SBP's role in economic management

ISLAMABAD, Sep 5 (APP): Federal Minister for Finance, Senator Muhammed Ishaq Dar on Monday showed his satisfaction over the progress  made in the economy and successful completion of the IMF program.

He lauded the team work between Ministry of Finance and State Bank of Pakistan (SBP), he said in a statement issued by Ministry of Finance here.

SBP has played a very constructive role in the successful
completion of the IMF program meeting the performance criterion and carrying out reforms agreed under the program, he said.

He was addressing a meeting of senior management of the SBP attended by the governor, Ashraf Mahmood Wathra, Deputy Governor Financial Markets, Islamic Banking and Special Initiatives Saeed Ahmed, Deputy Governor Policy Riaz Riazuddin and executive directors of the Bank.

The Finance Minister expressed his comfort on the smooth
working of the financial markets particularly in the backdrop of the launch of electronic Import Form (I-Form) effective 1st September, 2016.

He said that the implementation of I-Form will help significantly in proper documentation of imports and deter
pilferages.

He advised that there should be no delay in the implementation  of the scheme; however, any deserving case should be looked at  individually.

While appreciating the efforts made by SBP in spreading the
Islamic Banking services in the country, the Finance Minister
reiterated his government’s strong commitment towards promotion of Islamic banking in the country.

He termed the announcement of the high level Implementation Committee at the World Islamic Finance Forum arranged by the Center of Excellence in Islamic Finance of IBA (CEIF-IBA) as a milestone in promotion of Islamic banking and finance in Pakistan.

He also stated that efforts made by SBP in spearheading
Financial Inclusion Strategy would benefit the deprived sector of the society and help alleviate poverty.

Earlier, the Governor thanked the finance minister for his
visit and said that the progress of the economy essentially reflects good coordination between the government and various state institutions.

SBP is always prepared to contribute as much as possible in
the inclusive economic growth and shared prosperity, the governor said.