Federal Minister for Finance Senator Ishaq Dar met Chairman Exim Bank Fred P Hochberg on Monday and briefed him on the positive outlook of Pakistan’s economy saying it has been on a consistent positive trajectory since the current government introduced vital economic reforms two years ago.
He told Mr Hochberg that the last two years had proved helpful in uplifting the economy of the country. The GDP growth was recorded at 4.24 percent while the government has managed to bring down fiscal deficit to 5.3 percent from a high of 8.8 percent, he added.
The minister said it was due to the better economic policies of the government that rating agencies including Standard and Poor and Moody’s have raised Pakistan’s economic outlook from negative to positive. It is a recognition of Pakistan’s robust economic performance and that foreign exchange reserves are at record high and currently exceed US $18.5 billion.
The Hochberg chairman appreciated Pakistan’s positive economic performance over the past two years. He said that Exim Bank was looking forward to working with Pakistan on projects of mutual benefit to both countries, in continuation of an established age old relationship. He also said that if Exim Bank was approached for financing the 3600 MW LNG project by GE, the Bank would consider providing the financing options. Both sides re-affirmed their resolve to keep up the spirit of close cooperation. He was accompanied by Ambassador Jalil Abbas Jilani and Consul General, New York, Raja Ali Ejaz.
