Armitage appreciates economic reforms

Prime Minister-designate and Finance Minister Shaukat Aziz during a meeting with US Deputy Secretary of State Richard Armitage stressed on the need of Pakistan having adequate conventional defence capability and on maintaining a balance of power in the region, which is important for peace in the region.
He also urged the US to engage more closely and address some genuine concerns of the Muslim World.
Armitage appreciated the economic reforms introduced by Pakistan during the last five years or so and observed that continuity of reforms agenda is very important for the future of Pakistan. He expressed the US desire of having a long term, sustainable relationship with Pakistan.
US assistance to Pakistan on economic side, Pakistan's economic reform agenda, bilateral relations and matters of mutual concern, Pakistan's security concerns and the need for a balance of power in the region came under discussion during the meeting.
The Finance Minister apprised Armitage about the momentum gathered by country's economy. He said Pakistan's economic development is taking place on very sustainable grounds. As compared to countries in the region, all macro-economic indicators exhibited marked improvement last year. Next year's GDP growth target is 6.6 percent and Pakistan is hoping to reach at 8 percent growth rate during the next three years, Shaukat Aziz added.
This year's budget is focused on opportunity creation which is key to poverty alleviation. The government is particularly focusing on agriculture and rural development so as to achieve higher growth rates.
He said that President Musharraf genuinely desires to see socio economic development in Pakistan and considers continuity of reforms and improvement on the implementation side very important.
Finance Minister said his focus would continue to remain on economic development, better implementation and on improving governance in the country.
"If we can reduce deprivation, create opportunity and increase rate of growth, we will create hope in our people and many challenges facing the country will gradually reduce", said Shaukat Aziz.
Improvement in climate for better Pak-India relations and Pakistan's security concerns also came under discussion. US Ambassador in Pakistan, Nancy Powell was also present at the occasion.