Hafeez Sheikh briefs Queen Maxima on economic situation of Pakistan

ISLAMABAD: Netherlands’s Queen and UN Secretary General’s Special Advocate for Inclusive Finance for Development Queen Maxima visited the Finance Division and held a meeting with Finance Adviser Abdul Hafeez Sheikh.

During the meeting, Dr Abdul Hafeez Shaikh apprised Queen Maxima of the economic situation of Pakistan with a focus on various policy steps

He briefed Queen about the initiatives undertaken by the government to restore macroeconomic stability and the progress achieved in recent months in different sectors, particularly 40 per cent 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.

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 for resource distribution between the centre and provinces.

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.

Matters related to digitalization in government departments, role of innovations and information technology in enhancing transparency were also discussed.

Queen Maxima along with six-member delegation arrived in Pakistan on Monday.

She was accorded warm welcome by the officials of the Foreign Office and Dutch embassy.