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Govt negotiating with ‘Banking Sector ‘ to resolve liquidity issue of top export sectors

ISLAMABAD, Jun 13 (APP): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Thursday said that the government was negotiating with the Banking sector to provide easy loans on priority to export sectors for growth of potential economic drivers of the country’s economy.

The government had already started talks with banking associations to resolve the liquidity issues of potential economic sectors including Agriculture, Information Technology (IT) and Small and Medium Enterprises (SMEs) through soft loans, Federal Minister for Finance and Revenue, Senator, Muhammad Aurangzeb said this while addressing the Post- Budget press conference along with Minister of State for Finance, Revenue and Power, Ali Pervaiz Malik , Chairman Federal Board of Revenue (FBR), Malik Amjed Zubair Tiwana and others officials.

The federal minister said that agriculture was the backbone of the country’s economy and the government was fully committed to promote the agri-industry in the country and in that regard, agriculture sector was a top priority for soft loans.

He said that export-led growth was the top priority of the government and the agriculture sector provided raw material for the top export sector including textile for promoting exports of the country.

Muhammed Aurangzeb said that Information technology sector was in top exporting sector and now IT export stood at $3.5 billion, which needed to enhance up to $ 7 billion in next three years.

He said that Pakistan was a country of young people and freelancers were now the emerging players in the development of the country’s economy and the government was fully committed to providing infrastructure and an ecosystem for the IT workforce in the country.

Meanwhile, he said that Small and Medium Enterprises (SMEs) sector had a major role in the country’s economy and the government would provide support to the sector for sustainable economic growth in the country.

The minister said that the government had allocated huge funds for the promoting SMEs and start-ups to give opportunities to youths in businesses.
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