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Economy back on path of stability: PM
ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Tuesday said with the government’s commitment, important economic targets within a period of two years had been achieved and the economy was back on the path of stability and progress.
In his opening remarks while chairing the meeting of Economic Coordination Committee of the Cabinet (ECC) at PM Secretariat, the Prime Minister said the foreign exchange reserves were at a respectable level, while workers remittances had shown impressive growth and revenue collection with prominent improvement.
The Prime Minister also observed that the investors’ confidence was improving and manufacturing had started picking up.
He termed this turn around as a result of prudent economic decision making by government.
He further said ECC decisions reflect the true aspirations of democratically elected government for the welfare of people and poverty alleviation.
Gilani acknowledged the services of Shaukat Tareen both as Finance Minister and Chairman of ECC for conducting meetings in judicious manners and taking a number of prudent economic decisions.
He said the ECC was the highest and the most important forum for economic decision making, which had direct impact not only on economy but also on the quality of life of common man.
The Prime Minister said that he introduced the system of obtaining endorsement of the Cabinet to all decisions of the ECC with a view to provide broad-based ownership to these decisions and then decided to bring these decisions to the Cabinet for information and discussion.
He wished to continue the practice of bringing ECC decisions before the Cabinet for information.
The Prime Minister said there was a need to find a good balance in decision making at this forum, both from the political as well as from the economic and financial perspective, keeping in view the resources and increased expenditure requirement due to war on terror and settlement of IDPs.
He observed that these decisions must reflect the true aspirations of the democratically elected government for the welfare of the people and poverty alleviation.
Expressing his satisfaction, the Prime Minister said the government had taken a number of bold decisions with political commitment, which had directly impacted people at large.
He mentioned that the government’s subsidy of Rs. 3 billion through Utility Store Corporation on the occasion of Eids, the price control on sugar, intervention price mechanism on wheat and rice have resulted into people welfare and have recorded impressive growth in the agriculture sector reducing poverty from the rural areas.
The Prime Minister urged the members of the ECC to ensure smooth and effective implementation of decision made here and in the Cabinet.
He assured that all decisions will be taken in the best national interest and for the greater benefit of the common man.
Courtesy www.Geo.tv