DUBAI: PM Imran Khan had a meeting with the IMF Chief Christine Lagarde here today on sidelines of World Government Summit.
Prime Minister appreciated the IMF’s support to Pakistan and shared his vision for nation-building, according to a press statement issued by the Ministry of Finance here. He reiterated the government’s commitment to undertaking structural and governance reforms and strengthening social protection in the country.
The IMF Managing Director acknowledged the steps taken so far by the Pakistan government for stabilizing the economy. She said the IMF would remain engaged in supporting Pakistan in sustaining its economic recovery. The two sides agreed to work together on policy priorities and reforms aimed at reducing imbalances and laying the foundations of a job-creating growth path in Pakistan. In this regard, deliberations between Pakistani authorities and IMF staff would continue to finalize an agreement on the contours of a programme, it added.
The prime minister, along with a high-level delegation (comprising Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Maritime Affairs Minister Syed Ali Haider Zaidi, Adviser to PM on Commerce Abdur Razak Dawood and Special Assistant to PM on Reforms Dr. Ishrat Hussain) arrived here earlier in the day to attend the international event, at the invitation of Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai Sheikh Mohammad Bin Rashid Al-Maktoum.
Relevant: Managing Director of International Monetary Fund Christine Lagarde has reiterated that IMF stands ready to support Pakistan. Talking to Prime Minister Imran Khan in Dubai on the sideline of World Government Summit, she said that decisive policies and a strong package of economic reforms would enable Pakistan to restore the resilience of its economy and lay the foundations for stronger and more inclusive growth. IMF held its Chief also appreciated the government’s policy agenda, protecting the poor and strengthening governance as key priorities to improve peoples’ living standards in a sustainable manner. Christine Lagarde said she had a good and constructive meeting with Prime Minister Khan, during which we discussed recent economic developments and prospects for Pakistan in the context of ongoing discussions toward an IMF-supported program. Addressing the World Government Summit, IMF Managing Director Christine Lagarde said Arab countries have made progress, but there is still much to be done to increase growth and job opportunities for all. She said over the past year, we have looked closely into international experience and policies to increase SME financial inclusion. IMF Chief said based on our recent research, we found that promoting SME financial inclusion requires a holistic approach. Meanwhile, Prime Minister Imran Khan has emphasized on carrying out deep structural reforms to put the country on the path of sustainable development in which the most vulnerable segments of society are protected. In a tweet, he said IMF Managing Director Christine Lagarde also shares a convergence of these views, during her meeting with him, on the sidelines of World Government Summit, in Dubai.
DUBAI: Pak PM Imran Khan also met Lebanese PM Saad El-Din Rafik Al-Hariri on the sidelines of World Government Summit.
Imran Khan invited the Lebanese companies to invest in Pakistan. The two leaders underscored the importance of cooperation between the parliaments of the two countries. Prime Minister Imran Khan said that he stands in solidarity with the Lebanese people in these challenging times and admires the efforts of the Lebanese government in ensuring the stability and security of Lebanon. Prime Minister Saad Hariri congratulated Prime Minister Imran Khan on his election and assumption of Office of the Prime Minister of Pakistan. The Lebanese Prime Minister underscored close, friendly and fraternal relations between the two countries. Imran Khan congratulated his Lebanese counterpart on the formation of a new government in Lebanon and wished him all success in taking forward this national consensus government.
Prime Minister Imran Khan also held a meeting with UAE Prime Minister Sheikh Rashid bin Mohammed bin Rashid Al-Maktoum, in Dubai today.
A relevant piece published earlier:
12th 5-years plan envisages 5.4% growth
ISLAMABAD: Minister for Planning Development and Reform Makhdum Khusro Bakhtyar has said that the 12th Five Year Plan envisaged an average growth of GDP at 5.4 percent and the expected outlay of the Plan would be Rs 11.750 trillion including Rs 1 trillion involving innovative financing through a public-private partnership.
He said the plan extensively covered growth, macro stability, expand agriculture production, galvanize agro-business potential, industry and export competitiveness, human resource development, integrated energy planning, infrastructure development, social safety nets, poverty reduction, achieving SDGs and administrative reforms along-with focus on less developed areas, climate change and environment.
The Minister was chairing a briefing to Economic Advisory Council on draft 12th Five Year Plan here on Friday.
Advisor to PM on Commerce & Industry Abdul Razzak Dawood, members Economic Advisory Council, Secretary Planning Zafar Hasan, Secretary BISP Ali Raza Bhutta, Chief Economist Ejaz Wasti, Members Planning Commission and senior officials of all sections of the ministry were present during the briefing.
Makhdum Khusro said that it has been decided to conduct quarterly reviews of the plan at the Ministry and bi-annual reviews will be made by the Prime Minister for its effective implementation in achieving all the set targets.
He stated that priority will be given to projects related to infrastructure development, transport, housing, communication, energy, and water sector.
The Minister said that development strategy also entails boosting the country’s exports as well as envisages a mechanism to monitor the progress of ongoing projects.
He added that the Plan aims at improving the productivity of all sectors of the economy. He said that the Government was committed to ensuring timely completion of all ongoing projects without any cost escalation.
Makhdum Khusro appreciated the macroeconomic framework prepared by the Planning Commission.
Secretary Planning Zafar Hasan said that Plan document has been prepared through an extensive consultative process involving dialogue with stakeholders, formal consultation with the members of different working groups formulated for different sectors.
So far, more than thirty sessions have been held with stakeholders for preparing the draft of the next Plan. He apprised that after taking the inputs and suggestions from the members of the Economic Advisory Council, the Plan will be placed before the National Economic Council for consideration and approval.
BMW, Daimler to invest 1b euros
BERLIN: German auto giants BMW and Daimler said Friday they would invest one billion euros ($1.1 billion) in combining and extending their carsharing schemes, in future offering a slew of joint “mobility services”, including for electric cars.
“We are pooling the strength and expertise of 14 successful brands and investing more than one billion euros to establish a new player in the fast-growing market for urban mobility,” Dieter Zetsche, chief executive of Mercedes-Benz maker Daimler said in a statement.
Senate Standing Committee visits Wafaqi colony
LAHORE: Senate Standing Committee on Housing and Works led by its chairman Mir Kabeer Ahmad Muhammad Shahi on Friday visited 60 newly constructed apartments in Wafaqi Colony.
Talking to media men on the occasion, Senator Mir Kabeer Ahmad said the Senate standing committee on housing and works was thoroughly briefed by the ministry of housing and works regarding its projects in Lahore. He said that out of 60 apartments, 16 had been handed over. The cost of one flat was Rs 68,00,000, he said adding that it was ‘reasonable price’ in view of the project location.
He informed that the Senate standing committee also met Punjab Governor Chaudhry Muhammad Sarwar on Thursday and discussed matters with him. He said the Governor assured to extend all possible support to retrieve Housing and Works land from Board of Revenue. Later, they also visited Wafaqi colony, federal lodges and reviewed the facilities being provided there. Senate standing committee members including Senator Mirza Muhammad Afridi and others were also present.