The United States and Pakistan discussed strengthening cooperative ties as Treasury Secretary Steven Munchin and Finance Minister Ishaq Dar with economic development and efforts to choke terrorist financing figuring in the talks.
Highlighting major economic achievements the government has made since 2013, Dar told his U.S. host that it has been for the first time that Pakistan has completed an IMF Program , signaling that the economy is now on solid footing, and poised for sustained and inclusive growth.
Dar particularly noted that the fiscal deficit has come down from 8.2% in 2013 to 4.5% in 2016, while foreign exchange reserves have climbed to over $21 billion, an equivalent of over 04 months of the country’s massive import bill.
Dar, who represented Pakistan at the annual World Bank-IMF Spring meetings said Pakistan is now eligible for IBRD loans which is providing us much needed fiscal space for development projects.
While responding to a question from Treasury Secretary about Islamabad’s efforts to control the menace of terrorist financing, Senator Dar emphasized that Pakistan is firmly committed to eliminating terrorism in all its manifestations, the Pakistani embassy said.
He shared details of counterrerrerorism operations with Treasury Secretary, stating that the Government is spending huge sums of money not only on the operational side of the fight against terror but also to rehabilitate internally displaced persons.
Moreover, the Government is enforcing legal controls to prevent misuse of banking channels to avoid flow of funds to terrorist organizations.
US Treasury Secretary Mr. Munchin appreciated the recent economic turnaround Pakistan has achieved as well as the government’s efforts to control terrorist financing.
He observed that both the countries should work together to curb this menace.
Finance Minister Dar further said that we look forward to working with the new US Administration not only in the area of economy but also in other fields, and noted the need for the two countries to work closely with each other for mutual benefit.
Earlier, Finance Minister Dar also addressing a forum at the Pakistani embassy on the country’s economy. He defended the government’s policy to provide relief to Chinese investors for the completion of projects under $ 54 billion China Pakistan Economic Corridor.
Dar also said Islam stands for peace and peaceful relations, and said linking the menace of terrorism with the religion is wrong.
