Oct 02 , 2015
News
Operation to continue till restoration of peace in Karachi: president
Mamnoon says SBP reduce discount rate further, private banks to disburse more loans
APPKARACHI – President Mamnoon Hussain said that the targeted operation in Karachi would continue till complete restoration of peace and elimination of terrorism.
The metropolis was regaining its status of ‘city of lights’, he said while addressing the 3rd FPCCI Achievements Awards ceremony organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here.
The president said that Pakistan was now on the right path as the process of economic revival had started which would bring prosperity for the people. He added that the entire nation must contribute in one way or another. He said that the economic stability topped the national agenda and all the national institutions were working to realize it.
Mamnoon said that the government had set priorities keeping in view the ground realities and taken right decisions. In its wake, he said the State Bank of Pakistan (SBP) had reduced the discount (policy) rate further, adding that now private banks would disburse more loans that would encourage investment in Pakistan and resultantly exports would increase significantly.
The president said that it would also boost economic growth, besides creation of more jobs. He said that this positive shift had provided a strong base for economic stability in Pakistan. The international institutions had also acknowledged the positive economic indicators as their reports suggested that Pakistan was improving its international rating, he added.
Recounting the reasons behind economic instability, the president said that Pakistan was confronted with energy shortages. He added that in the past no serious efforts were made to overcome this problem, nor terrorism was dealt with strategically. He expressed the satisfaction that the present government was taking all possible steps to address the energy shortages and hoped that after two and a half years the country would come out of this situation.
Mamnoon said that the operations being carried out by the law enforcing agencies in the country, including the Zarb-e-Azb by the armed forces, had started bearing results. “Now, it is the duty of the entire nation to stand with the armed forces and the government to make Pakistan a terror-free and progressive country.” Earlier, the president distributed FPCCI Achievement Awards among the winners.
Courtesy www.dailytimes.com.pk