Reiterating government's resolve to pursue the economic reform agenda, caretaker Prime Minister Mohammedmian Soomro has said that government would continue to extend priority to ensure availability of basic needs, dependable infrastructure and trained human resource so that the pace of development remains unhampered.
He was talking to Shahid Javed Burki, Chief Executive Officer of EMP Financial Advisors, who called on him at the PM's Secretariat on Tuesday.
The prime minister said Pakistan because of its geo-strategic location serves as a bridge between three important regions of Asia and the government is working to leverage this position to promote regional trade. He said Pakistan's vision of building trade, energy and transportation corridors has been well received by various countries of the region.
The prime minister said the government is also working to establish Pakistan as high value added internationally competitive regional hub for manufacturing and trade and to achieve this end, the government is focusing on improving the logistics chain. Under the National Trade Corridor Plan, the Prime Minister said a network of roads and bridges is being built and procedures and processes have been simplified and made efficient. The strengthening of infrastructure would add to the competitiveness and productivity, of our goods, the he added.
He said that Pakistan has adopted a multi-pronged strategy to enhance the country's investment scenario. The government reformed the financial sector and taxation process, removed the antiquated procedures, improved the enforcement of civil contracts and documentation of property rights, developed the infrastructure and ensured consistency and continuity of public policies, he added.
The prime minister said that Pakistan undertook revolutionary reforms in the financial sector and as a result majority of the Pakistani banks have been privatised whereas many international banks have entered the Pakistani financial market. Many major international banks and financial institutions have established their offices in Pakistan and are playing an important role in the financial development of Pakistan, the prime minister said.
Shahid Javed Burki said Pakistan has a dynamic future and tremendous potential of development. He said Pakistan is rich in human capital and the government's policy to invest in human resource development will provide the country with more opportunities.
He also appreciated the infrastructure strengthening programmes of the government and said the idea of building multiple corridors linking Central Asia with Western China will create more opportunities in the region and more investments will come to Pakistan.
It may be mentioned that Shahid Javed Burki served at the World Bank for 25 years (1974-99), as division chief and senior economist, Policy Planning and Programme Review Department; senior economist and policy adviser, the Office of the Vice President of External Relations; Director, International Relations Department of that vice-presidency; Director of China and Mongolia; and vice president of the Latin American and Caribbean region.