PM chairs meeting of economic team

ISLAMABAD, Nov 20 (APP):Prime Minister Imran Khan Wednesday chaired a meeting of the government’s economic team to consider various important matters.

The meeting took stock of the important issues like growth of remittances sent by the overseas Pakistanis and extension of further facilities to them, revival of Pakistan Steel Mills, advertisement of Pakistan Banao certificates abroad, progress on different development projects initiated with the assistance of the international organizations and revival of government’s sick units, Prime Minister Office media in a press release said.

The meeting was attended by Minister on Economic Affairs Hammad Azhar, Minister for Planning Asad Umar, Minister for Maritime Affairs Syed Ali Haider Zaidi, Minister for Power Umar Ayub Khan, Advisor on Finance Abdul Hafeez Shaikh, Advisor on Commerce Abdul Razak Dawood, advisor Dr Ishrat Hussain, Special Assistant on Information and Broadcasting Dr Firdous Ashiq Awan, Special Assistant Dr Sania Nishtar, Special Assistant Nadeem Babar, Investment Board Chairman Syed Zubair Gilani, Governor State Bank of Pakistan Reza Baqir, former finance minister Shaukat Tareen, secretaries of the relevant ministries and other senior officials.

The prime minister was apprised that after three years, 09 per cent growth was witnessed in the flow of remittances and during the year 2019, it had touched a figure of $21.8 billion. Three years back, its growth remained zero.

The meeting was informed that the remittances flow was witnessed from the United Kingdom, Malaysia, Canada and Australia. Its increase from UK stood around 09 per cent. It was hoped that further increase in the remittances was expected.

The ministry of finance and SBP presented different suggestions for extending further facilities over the remittances.

It included continuation of policy of extending facility of one rupee over one dollar to the banks for attaining 15 per cent remittances growth rate, bringing down the required sum to maximum level for the telegraphic transaction, facilitating those Pakistanis going aboard to open bank accounts and utilizing services of Pakistan Post Office for dispatching remittances.

The prime minister directed that the government’s proposals on remittances by extending facilities and incentives should be finalized in a week, so that these could be implemented accordingly.

The meeting also considered different proposals for the revival of Pakistan Steel Mills while the participants also discussed in details, proposals for advertisement of Pakistan Banao certificates abroad.

They also discussed future mechanism for expediting work on different development projects which were underway with the assistance of the international partners.
The prime minister directed for accelerating the completion work on these projects.
He observed that with the timely completion of these projects, the economic process would get pace, besides creating job opportunities.

He further directed that his office should be regularly kept updated about the progress on these projects and the office be contacted in case for removal of any impediment.

Shaukat Tareen, former finance minister, apprised the prime minister that the Akhuwat, a non- government organization, was in the process of finalizing the initiative to collect food stuffs from the houses and provide them to the deserving and needy people. He said this project would be completed within a week.

The prime minister appreciated the initiative and assured government’s full cooperation as it was similar to the governments’ welfare activities.

Special Assistant to Prime Minister on Social Protection and Poverty Alleviation Dr Sania Nishtar briefed the prime minister over the distribution of Ahsas Ration Cards in the merged tribal areas.

The prime minister stressed that under the Ahsas programme, the process for timely launch of different projects should be ensured, so that maximum population could avail of the government’s important welfare project.