London (Web Desk): Deputy Prime Minister and Foreign Minister Ishaq Dar has said Pakistan has moved beyond the risk of default, with the economy now on a path of stability and the government shifting its focus towards economic growth and improving the country’s growth rate.
Addressing the Pakistani community in London, Dar described his visit to the United Kingdom as highly positive and successful.
He said Pakistan and Britain had agreed to take their bilateral ties to a new and higher level through closer cooperation.
The deputy prime minister said the government’s objective was to restore Pakistan’s economic indicators to the levels recorded in 2017.
He added that Pakistan aimed to become the world’s 24th-largest economy and eventually join the G20.
Economic expansion, he said, would help raise per capita income and improve the standard of living for ordinary citizens.
Dar said Pakistan’s foreign exchange reserves had improved considerably, while inflation had fallen from around 30 per cent to single digits. He added that the policy rate had also declined from 22 per cent to 11.5 per cent. “The wheel of Pakistan’s economy has started moving,” he said.
He maintained that Pakistan had secured an important position internationally and was fulfilling its diplomatic responsibilities actively.
He said Pakistan had called for reforms within the Commonwealth and had also offered cooperation to member states in addressing the challenges posed by climate change.
Dar further said Pakistan had undertaken diplomatic efforts during the US-Iran dispute and played a role in bringing the two sides towards negotiations.
Pakistan, he said, believed that dialogue and diplomacy were the best means of resolving disputes, as wars could not provide lasting solutions.
According to Dar, Pakistan’s diplomatic initiatives were receiving appreciation around the world, with the country increasingly being viewed as an advocate of peace in the region. He added that Pakistan was also being described as a “net security provider” in the region.
Calling overseas Pakistanis a major national asset, the deputy prime minister said their remittances played a vital role in supporting the country’s economy and had crossed the $40 billion mark.
He urged overseas Pakistanis to invest in Pakistan and keep their funds in the country through Roshan Digital Accounts.
Dar said Pakistan had witnessed positive developments on both the diplomatic and economic fronts.
He added that several countries were now interested in working with Pakistan, while the country had also received numerous invitations from different nations.