US Trade Representative called on Ishaq Dar

Dar reviews arrangements for CAREC Conference, visits of IMF, ADB officials

ISLAMABAD, Oct 19 (APP): United States Trade Representative (USTR) Ambassador Michael Froman Wednesday called on the Minister for Finance Senator Muhammad Ishaq Dar here the otherday.

Welcoming the dignitary to Pakistan, the Finance Minister apprised  Ambassador Froman on the reforms undertaken by the Government for stabilization and growth of the economy.

He informed that Pakistan has undergone considerable tax reforms  which resulted in record tax revenue collection in the last three years.

He said that Pakistan had also made significant progress in meeting  shortfall in energy and overcoming security situation of the country.

Ambassador Froman congratulated the Finance Minister on successful  completion of IMF Programme, a statement said on Wednesday here issued by Ministry of Finance.

He appreciated the measure taken by the present Government to turn  around the economy.

He acknowledged the improved investment climate and economic  conditions in Pakistan and expressed full support to measures necessary for strengthening bilateral trade ties.

The Finance Minister stated that Investment Policy 2013 of the country  aimed at reducing of processes and improving ease of doing business and that all economic sectors were open to Foreign Direct Investment.

He urged the US Government to continue facilitating private US  investment in Pakistan.

Dar also highlighted the key legislation being undertaken by the  present Government in the fields of Anti-Money Laundering, Counter Terrorism and Companies Law.

He also stated that Pakistan has recently become a signatory to OECD’s Multilateral Convention on Mutual Administrative Assistance on tax matters.

The Minister appreciated the value of US as a trade partner and  expressed the hope that bilateral trade would grow further as there was immense potential.

He encouraged further US investment in Pakistan and said that all  possible efforts are being made to ensure that a level playing field is accorded to international companies
working in Pakistan and that doors remained open for further US companies’ investment and expansion in Pakistan.

Ambassador Froman said that Pakistan’s IT infrastructure was growing  at a commendable pace and this is visibly providing opportunities for growth to SME’s through e Commerce.

He thanked the Finance Minister for Pakistan’s active engagement in  the Trade and Services Agreement (TISA) of the World Trade Organization (WTO) and said that Pakistan was leading in this area in the region.

He said that the US looked forward to further collaboration with  Pakistan in developing digital economy which could provide opportunities to far flung areas of Pakistan.

The meeting was attended by US Ambassador David Hale,Deputy USTR  Vogel, Chairman Board of Investment, Miftah Ismail, Special Assistant to Prime Minister on Revenue Haroon Akhtar, Secretary Finance, Secretary Commerce, and Chairman FBR.