Need of reforms to improve efficiency of State Owned Enterprises: Miftah

ISLAMABAD, July 27 (SABAH): Finance Minister Miftah Ismail has emphasized for reforms to improve the efficiency of State Owned Enterprises.

Addressing a seminar on Improving the Corporate Governance and Performance of SOEs, in Islamabad on Wednesday, he admitted there is no dearth of competency in these institutions rather it is a matter of only better laws to improve their governance.

Touching upon the economic situation, he said policies will be instituted to bring inclusive and sustainable growth. He said they have averted default and our priority at the moment is keep the country on the straight path of stability.

The finance minister pointed out that there has been remarkable contraction in imports during the current month. From next month, he was confident that the inflows of dollars will be more than the outflows. He said this will reduce pressure on the rupee.

As regards the IMF program, he said Pakistan will get about four billion dollars from the international lender over the next one year.  He was confident that the friendly countries will also provide financing of four billion dollars in the form of investment in stock market, purchase of two power plants and deferred oil and gas payment.