ISLAMABAD: Her Majesty Queen Maxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), visited the Finance Division today for a meeting with Adviser to the Prime Minister on Finance & Revenue Dr. Abdul Hafeez Shaikh and his economic team.
During the meeting, Dr. Abdul Hafeez Shaikh gave the Queen a detailed overview of the economic situation in Pakistan with a focus on various policy steps and initiatives undertaken by the government to restore macroeconomic stability and the progress achieved in recent months in different sectors, particularly 40 percent decrease in current account deficit, over 15 per cent growth in revenue collection, grant of incentives and loan facility to exporters, tax exemption on exports, investment of over US $1 billion foreign investment in local bond market, doubling of budget allocations for social safety net, disbursement of direct financial support and stipends to women, youth and students, and nearly 240 per cent growth in foreign direct investment during the last four months as compared to corresponding period last year.
The adviser also spoke on the issue of inflation and enhancing local productivity through various policy means and measures. He further briefed the Queen on the nature of public finance and mechanism for resource distribution between the centre and provinces and allocation of funds and resources for protection of the poor and marginalised sections of the population.
The Queen thanked the Adviser for a comprehensive presentation of various aspects of the economy and shared her view on a range of economic issues, including the need for enhanced financial inclusion, better coordination among different tiers of the government, digitalisation in government departments, role of innovations and information technology in enhancing transparency and efficiency in government and support to start-ups and new businesses.
