Govt strove to put economy on the right track: Hafeez Shaikh

KARACHI: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh reiterated on Monday the government’s resolve to provide a conducive environment to investors in the country.

Speaking to media during his visit to the Pakistan Stock Exchange (PSX) where he attended a ceremony held to mark the listing of PHL’s Pakistan Energy Sukuk II worth Rs200 billion on the Exchange, he said subsidy is being provided to 90 per cent consumers of gas and utility stores to provide relief to the public.

Hafeez Shaikh said the government gave power and gas subsidies to the industrial sector to spur economic growth and urged the business community to find new markets for their products and utilise new instruments for the promotion of businesses.

He said there was a crisis-like situation when the incumbent government came to power, adding it strove to put the economy on the right track and brought in programmes to give cash handouts to the poor to alleviate poverty. He pointed out that the government was giving special attention to eliminating poverty and improving living standards of the underprivileged sections of society.

The adviser said the government commends the private sector’s role in jacking up exports.