Govt making all-out efforts to put economy on path of sustainable growth: Dar

• "Pakistan was expected to become world’s 18th-strongest economy in 2016."
• The country, however, is facing serious economic challenges, Dar says.
• "Pakistan will not default,” retreats finance minister.

ISLAMABAD: The federal government is making all possible efforts to steer the country out of a difficult situation and put the economy on the path of sustainable growth, Finance Minister Ishaq Dar has said.

Addressing an Iftar dinner hosted by the Islamabad Chamber of Commerce and Industry (ICCI) in honour of foreign diplomats, he said that friendly countries are expected to materialise their commitments with Pakistan that would pave the way to close the deal with the International Monetary Fund (IMF) and revive the economy.

In 2016, Pakistan was a rising economy as it was expected to become the world’s 18th-strongest economy, but is now facing serious economic challenges, the financial czar added. "Pakistan will not default and the government is making all possible efforts to steer it out of a difficult situation."

Speaking on the occasion, ICC President Ahsan Zafar Bakhtawari urged the government to ensure consistency in economic policies that would enable the business community and investors to invest in Pakistan with confidence.

He assured that the business community would fully support the government in its efforts to revive the economy.

He highlighted the business and investment opportunities in Pakistan for diplomats and said that Pakistan is a huge market with over 220 million consumers and offered great investment opportunities in various sectors of its economy.

Zafar Bakhtawari, former President ICCI, said the business community is hopeful that Finance Minister Ishaq Dar will soon conclude a deal with the IMF that will enable Pakistan to cope with its current economic crisis.

He urged the government to work hard to end the country’s reliance on foreign loans and make it self-sufficient and assured that the business community would fully support in achieving this goal.

Atadjan Movlamov, Ambassador of Turkmenistan, Yerzhan Kistafin Ambassador of Kazakhstan, Khazar Farhadov Ambassador of Azerbaijan, Ulanbek Totuiaev Ambassador of Kyrgyzstan, Dr Mehmet Pacaci Ambassador of Turkey, Adam M Tugio Ambassador of Indonesia, Dr Ramez Alraee, Ambassador of Syria, and diplomats of many other countries including Saudi Arabia, Australia, Malaysia, Poland, Sri Lanka, Nepal, Republic of Turkish Northern Cyprus attended the Iftar dinner.

They appreciated the ICCI for hosting a magnificent Iftar dinner for them.