IMF praises Pakistan’s economic performance

[LahoreEstate]

* Zardari says ROZs in FATA will help generate economic activity
* PM thanks IMF for helping Islamabad overcome economic challenges

Staff Report

ISLAMABAD: Pakistan has done well despite the global recession, the war on terror and the massive displacement of people from Swat and Malakand, which impeded economic activity, head of the International Monetary Fund Mission for Pakistan, Adnan Mazarei, said on Monday. He, along with IMF Resident Representative Paul Ross had called on President Asif Ali Zardari and expressed appreciation for Pakistan’s economic performance.

He said the international community had great sympathy for the country’s problems and appreciated the major progress made by it in various ways. Briefing the media after the meeting, the president’s spokesman Farhatullah Babar said the head of the IMF mission had appreciated Islamabad’s efforts to stabilise the country’s economy.

More economic activity: The president said the establishment of Reconstruction Opportunity Zones (ROZs) in the Tribal Areas would help generate economic activity while alleviating poverty and generating employment. He also stressed the need for opening up US and EU markets to Pakistani goods.

The two men also called on Prime Minister Yousaf Raza Gilani at the PM’s House. Talking about the government’s achievements in successfully increasing the tax to GDP ratio from 8.8 to 10.6 percent in one year, the PM expressed his firm commitment to enhance the ratio to 15 percent over the next five years by broadening the tax base.

The prime minister expressed satisfaction with the overall economic situation in the country, saying that all economic indicators had started showing positive trends after the government’s timely intervention and the introduction of corrective measures.

Help appreciated: While appreciating the IMF for its help in substantiating Islamabad’s efforts in overcoming economic challenges, Gilani told Mazarei about his government’s approach to address the country’s problems including poverty, the power shortage, limited access to public services and extremism through a combination of administrative, political and security measures.

http://www.dailytimes.com.pk/default.asp...2009_pg7_6