Due to devastating floods in country, the economy is going through hard times: Miftah Ismail

ISLAMABAD, Sep 08 (SABAH): Derek Chollet, Counselor of the U. S. Department of State accompanied with Donald Blome, Ambassador of the United Stated of America to Pakistan called on Federal Minister for Finance and Revenue Dr. Miftah Ismail Ahmed at Finance Division on Thursday.

Finance Minister Miftah Ismail welcomed the delegation and shared about the mutual multi-dimensional ties between Pakistan and the US. The Finance Minister apprised the delegation of U.S. Department of State about the current overall macroeconomic outlook of the country. The Finance Minister also shared about administrative measures being undertaken by the present government for dealing with these challenging times. He further apprised that due to devastating floods in the country, the economy is going through hard times that have damaged the agriculture sector and infrastructure badly.

Miftah Ismail further enlightened the delegation that Pakistan’s path to sustainable economic growth has become narrow due to the devastation caused by the floods but present government’s top priority is to sustain the path of economic growth. The Minister also apprised the delegation on the progress on World Bank’s programs in Pakistan namely RICE and PACE.

Derek Chollet, Counselor of the U. S. Department of State introduced his team and appreciated the efforts of the Finance Minister of Pakistan on undertaking various hard measures for setting the economy of Pakistan on trajectory of growth. He also shared compassionate views over hard times being faced by Pakistan due to floods in Pakistan.

Derek Chollet also acknowledged and encouraged the pragmatic efforts of present government in Pakistan being undertaken for sustaining the growth during such demanding times. The Finance Minister appreciated Derek Chollet, Counselor of the U. S. Department of State for recognition and support.

Meanwhile Miftah Ismail held a meeting with Group CEO VEON Kaan Terzioglu at Finance Division on Thursday. Head of Investor’s Relations Nik Kershaw, Share Holder of VEON Matteo Scolari, CEO Jazz Aamir Ibrahim and other senior officers from Finance Division attended the meeting. CEO VEON briefed the Finance Minister about the profile, vision and economic contribution of VEON in terms of bringing in foreign investment in Pakistan. He also shared with the Finance Minister about the various issues being faced by them.

The Finance Minister highlighted the delegation about various friendly policies by the present government for encouraging the foreign investment and for facilitating the foreign investors in Pakistan. He assured the CEO VEON that their issues will be resolved at earliest and stressed for foreign investment in various sectors in Pakistan.