Keep politics and country`s economy separate, says Ishaq Dar

KARACHI: Finance Minister Ishaq Dar said on Friday that political party should keep politics aside when it comes to the economy of the country.

Speaking in Geo News' program 'Aaj Shahzeb Khanzada Kay Saath', he said: "It doesn't matter if it is our government or not. Pakistan is for everyone. There should be an economic charter for political parties for the years 2018-23, this is an opportunity."

"International institutions are saying that Pakistan will enter the economy of G20s," further claiming "by 2050, economies of Italy, South Korea and Canada will be behind us. How can we loose such opportunity."

Responding to a question, he said that PIA's privatisation was politicised.

"Two of our people were martyred during the fiasco. I was outside Pakistan - when I was informed about it. It was really painful. Then we had to take PIA's case in joint session."

Without naming Sindh government, he said that: "It's on record one of the provinces claimed that they can run Steel Mill on RS10bn profit. We replied take it on one rupee and run it. It has been more than one and half year since the response."

The Pakistan Muslim League – Nawaz (PML-N) government on Friday presented it's fifth and possibly last budget before general elections in 2018, earmarking a total of Rs 4,757 billion in expenditures for the next fiscal year.last budget before general elections in 2018, earmarking a total of Rs 4,757 billion in expenditures for the next fiscal year.

"For the first time in Pakistan's history, an elected prime minister and finance minister are presenting their fifth budget. This shows the strengthening of democracy in the country," the minister said as he began presenting budget on the floor of the National Assembly.

Pakistan was on the verge of defaulting in 2013 and the economy was declared unstable on the basis of macroeconomic indicators, recalled Dar.

"Today, the country's foreign exchange reserves are adequate enough for four months of imports. The supply of gas has improved, and load shedding has been completely halted for the industries. Inshallah, load shedding will end for good come next year," he added.

The finance minister claimed the PML-N government had turned the economy around since it came to power in 2013.

"Today, reputable organisations like PricewaterhouseCoopers are saying that Pakistan will enter the G-20 group of nations in the near future," claimed Dar.

The GDP growth rate was 5.3% in the outgoing fiscal year — the highest in ten years, he stated, adding that it was for the first time that Pakistan's economy had grown to over $300 billion. "This shows the strengthening of the economy," said Dar.