Prime Minister Nawaz Sharif chairs cabinet meeting through video conference

Lahore: Prime Minister Muhammad Nawaz Sharif Monday said the effective economic policies of the government were coming to fruition with all the economic indicators showing positive trend including growth rate, inflation, fiscal deficit and tax receipts.

“After three years, our policies are bearing fruits.  Investors’s confidence was boosting. All economic indicators are showing positive trends. The economic growth rate is eight year high. Inflation has downed below three percent. Fiscal deficit is below 4.3 percent. Tax receipts have shown an exemplary surge of 56 percent comparing those of fiscal 2013,” the Prime Minister remarked while addressing the meeting of the federal cabinet through video link from London.

The cabinet meeting, presided over by prime minister, considered and approved the budget and taxation proposals for the fiscal 2016-17.

The prime minister, who is in London for medical treatment and would undergo heart surgery on Tuesday, said that the foreign exchange reserves had increased from US$ 7.8 billion in February
2014 to present US$ 21.6 billion. He said the government had prepared its fourth budget which, on one side indicated continuity of economic policies while on the other reflected the continuous progress and prosperity of the people.

The government has inherited fragile and instable economy with high fiscal deficit, low invetsment and energy crisis that had destroyed the industrial sector besides afflicting psycological
impact on the masses. But, he said the government was not perplexed by these issues, rather it formulated comprehensive policies and pursued those with responsibility, commitment and
honesty. He apprised the cabinet members that he was faced with some health issues and after examination, the doctors had scheduled surgery for Tuesday.

Thanking the nation, the prime minister said their prayers were the biggest asset for him. He said their prayers helped him pass through some critical and difficult times. He also thanked the elders, mothers, brothers, sisters and youngsters who showed their sincere emotions and wished him early recovery. He was also grateful to the leadership of the political parties for extending good wishes.

The prime minister was equally thankful to the party workers and media who followed moral and religious values and prayed for his recovery. “It is my faith that such prayers of sincerity and love would be accepted,” he remarked. Prime Minister Nawaz Sharif said his all energies were dedicated for soil of the country, adding that each drop of his blood and every breath would be fulfilling responsibilities enshrined to him. He said he was dreaming for such a Pakistan which was free from poverty, backwardness and illiteracy. A country which would be a source of pride, he added.

The prime minister thanked members of the Cabinet and all those Pakistanis who prayed for his good health and recovery.

Nawaz Sharif appreciated Finance Minister Ishaq Dar for efficiently handling other issues of government affairs besides looking after financial matters of the country. He also
lauded good work of the entire team of the finance ministry.

The prime minister specially asked the finance minister to announce special package for farmers and give substantial subsidy on urea.  He said the government had already announced relief package to the farmers. He said that it would be the great achievement of his government
to mitigate problems of the farmers.

Later, the Cabinet offered prayer for health and early recovery of the Prime Minister. Minister for Religious Affairs and Harmony Sardar Muhammad Yusuf offered Dua on the occasion.The Prime Minister said that the GDP would witness similar growth and it was expected to reach 6-7 per cent during the next two years. In the last three years, the national economic growth remained more than four per cent, he added.

He also referred to the Special Economic Zones (SEZs) being set up along the Pakistan China Economic Corridor (CPEC), which would bring an economic revolution in the country by encouraging the business and trade activities, besides, attracting foreign and local investments.
Pakistan would be at the center stage of the business activities in the whole region, he said.
Pakistan has a bright future and the consistent development policies being pursued by the government would further strengthen country’s economy and financial stability, he said.

The Prime Minister also expressed his gratitude to the whole nation and the participants of the NEC for expressing best wishes for his health and early recovery. He also credited Minister for Finance Ishaq Dar and Minister for Planning and Development Ahsan Iqbal for their contributions in devising and executing the development policies.

On the occasion, Chief Minister Balochistan Sardar Sanaullah Zehri, Chief Minister Sindh Syed Qaim Ali Shah,Chief Minister Khyber Pakhtunkhwa Pervaiz Khattak, Chief Minister Gilgit Baltistan Hafeezur Rehman, Governor Khyber Pakhtunkhwa Iqbal Zafar Jhagra, Minister for Water and Power and Defence Khawaja Muhammad Asif, Minister for Planning Professor Ahsan Iqbal and others prayed for the health of Prime Minister.

They said the Prime Minister would soon return to the country and lead them. The whole country was praying for the health of their Prime Minister. they added.