Islamabad, February 05, 2014 (PPI-OT): The Federal Minister for Finance, Economic Affairs, Revenue and Statistics Senator Muhammad Ishaq Dar met Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the Minister of Finance and Industry of the United Arab Emirates here on Tuesday evening and discussed matters of bilateral interests.
The Finance Minister said that Pakistan cherished its close friendly relations with the people and leadership of the United Arab Emirates. He said that foundation of our close relations were laid down by Late Khalifa Zayed bin Sultan Al Nahyan and Sheikh Rashid bin Saeed Al Maktoum.
Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and the Minister of Finance and Industry of the United Arab Emirates expressed his optimism that the present leadership of Pakistan would soon overcome challenges confronting the country. He assured that his government would extend all possible cooperation for economic development of Pakistan. He appreciated the invaluable contributions of expatriate Pakistani community in the development of UAE.
The Finance Minister apprised the Deputy Ruler of Dubai and the Minister of Finance and Industry of the UAE that Pakistan economy had been put on track through enforcement of financial discipline. He said that the present government believes in market economy and facilitation of businesses to enhance economic growth.
He further said that Pakistan’s industry had started showing positive growth of 5.2 percent. Revenue’s collection in January 2014 was Rs. 167 Billion indicating an increase of 26 percent over the collection of January last year was a positive signal to achieving full year target, he added. He added that prospects of natural gas in Pakistan were bright; therefore, the government was incentivizing oil and gas exploration to overcome energy shortages by tapping internal resources.
Sheikh Hamdan extended his best wishes for Prime Minister Nawaz Sharif. He recalled his visit to Karachi 11-12 years ago and commented that the city had since expanded a lot. He also inquired about security situation in the city.
The Finance Minister said that both Karachi and Lahore had expanded rapidly. Due to security concerns, people preferred to go to Lahore which had become Paris of Pakistan.
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