Trade deficit dips due to government endeavors: Shaukat Tareen

KARACHI: Advisor to prime minister on Finance Shaukat Tareen has said utility tariff is being reviewed for development of manufacturing sector.

He said this while talking to the journalists on the occasion of inauguration of Proctor and Gamble plant at Port Qasim here Thursday.

He told planning commission was working out 9-point agenda, which would include all stakeholders. Government was focusing on agriculture and manufacturing fields. M. Country’s trade deficit was scaling down due to endeavors of the governments, he told. Volume of trade deficit, which was running $2 billion per month, went down to $1.20 billion last month.

“We are endeavoring to stabilize economy on 9 basic points, he said adding investment was made in the spheres of banking, telecom and oil and gas sector in the previous years, he pointed out It is required to be diversified in miscellaneous braches of agriculture and industry, he added. China had assured us to make investment in different sectors, he added.

US ambassador Anne .W. Patterson while addressing the ceremony said Pakistan had enormous potential for investment. Investment by Proctor and Gamble dispelled this impression that circumstances were not conducive for investment here. Investment of $100 million by US company would generate employment opportunities in Pakistan, she added.

P and G group president said investment made by his group in Pakistan bore evidence of its trust that Pakistan would continue to go ahead on the path to maintaining business friendly environment on stable and long term basis.

Country manager Qaisar Sharif said their project would jack up national income by $1.1 billion in next 10 years.