ISLAMABAD: Adviser on Finance Shaukat Tarin has expressed the government’s determination to introduce growth-oriented measures to stimulate economic growth.

Delivering a keynote address at event - ‘Dialogue on the Economy 2021’, organized by Pakistan Business Council in Islamabad Thursday, he said the prudent fiscal reforms have helped in improving the tax to GDP ratio.

The adviser highlighted the economic priorities of the government and said that the government is committed to introduce growth-oriented measures to stimulate economic growth, with a clear roadmap of strategic priorities, business facilitation, investment opportunities, revenue and expenditure plans.

The aspiration was to lay the foundation of higher inclusive and sustainable growth so that the economy withstands any shock. These policies stabilized the economy while simultaneously improved the growth prospects.

He said that prudent fiscal reforms have helped in improving the tax-to-GDP ratio and improving revenue generation. Increasing tax collection and expanding the tax base were key objectives of the government’s financial agenda.

Govt optimistic to achieve over 5% economic growth, says Tarin

The adviser identified priority sectors such as agriculture, IT and industry modernization to boost exports and said special economic zones have been set up to attract foreign investment.

The government is vigorously pursuing “Make in Pakistan” policy to promote export-oriented industrialization in the country. The government’s efforts had been to further investment climate and attract FDIs in the country.

He also shared the steps taken to help the underprivileged through the social protection programs to improve the living standard of vulnerable segments of the society by empowering them.

Tarin further said that current trend in key economic indicators as well as recent high frequency indicators are giving encouraging signals for growth and envisaged that GDP will likely to grow more than the target in FY2022 and sustained its momentum in medium-term.

The adviser expressed confidence that in the face of various challenges/risks persisting both at external and domestic level, economy will be self-reliant and capable of competing with its competitors globally and will make it more resilient against any shock.

He thanked the organizers of the dialogue and emphasized that such dialogue will help further crystallized the challenges and develop optimal solution for the same.

This article was first published in Business Recorder on Dec 9, 2021.