Daily Times

Karachi: Minister of State for Finance Rana Muhammad Afzal on Thursday said that the second phase of CPEC will start in the coming days. “Green line project is a joint venture of the Federal and Sindh governments. If there is delay in the implementation of the project it is due to the Sindh government”, he said.

Addressing a press conference in Karachi, Rana Afzal reiterated that the government has no plan to revert back to IMF but “There is no harm if we go to financial institutions to seek funding for our development projects”

He said economic outlook of the country is positive. “This year the share of agriculture would be more in the GDP growth of this country due to better crops”, he added.

He said the government will make efforts during the next six months to leave the country in healthy condition financially before next elections.

The Minister of State said import of unnecessary goods is being reduced and exports have increased by 17 percent in the last five months resulting in the trade deficit which has reduced to 11 percent in November 2017. He hoped that the trade deficit would further come down in the near future.

He said the country has foreign exchange reserves of 19.7 billion dollars. “We are prepared to pay off external debts”, he said adding “Pakistan will never default”.

To a question, terming the recent statement of US President Donald Trump, the state minister said the US president’s statement was intended to pressurize Pakistan. “We take this very seriously”, he said adding Pakistan wants to resolve all issues with the United States through dialogue.

He said Pakistan would satisfy the United States on every objection. “we have also given a response in parliament”, he said.

He said the USA must understand that instability in Afghanistan is not in the interest of Pakistan. “Pakistan is erecting barbed wire on the border with Afghanistan to prevent illegal cross border movement”, he asserted.

The state minister said that accountability should be across the board. In the name of accountability the Pakistan’s stock market has been put in reverse gear, he added. The difference between Pakistan and India is that there were no martial law imposed. “No good is expected from Imran Khan”, he said. Federal government will take interest in the development of Karachi though it is the responsibility of the Sindh government. “Rs 25 billion development projects are in the pipeline for which the Sindh government has to provide PC-I. This package is not for MQM but for the citizens of Karachi”, he added.

Published in Daily Times, December 5th 2017.