ISLAMABAD, Feb 5: Pakistan has established international credibility for its economic reforms programme, enabling donors to make commitments for human resource development and to fight poverty, visiting Deputy Secretary of US Treasury Kenneth Dam remarked here on Tuesday.

In a meeting with Finance Minister Shaukat Aziz, he said Pakistan was now being sighted as one of the promising countries in South Asia as a future economic hub, having close proximity with the Gulf and the Central Asian States.

Mr Kenneth expressed considerable interest in poverty reduction and growth facility programme which was based on measuring outcome rather than merely ensuring increased expenditure.

He said he was encouraged by capacity-building measures undertaken by the government which, he believed, would result in donors’ assistance being used in a better way.

Mr Kenneth Dam was briefed about Pakistan’s fiscal management, tax reforms, human resource development, poverty alleviation, including increased spending on health, education, agriculture and infrastructure development. He said the US supported the programme both at macro and micro levels.

The US Deputy Secretary for Treasury was also briefed about the government’s efforts at introducing transparency through introduction of financial discipline in international transactions. He noted that the comfortable level of reserves, stable exchange rate and surging stock market had improved international confidence in Pakistan’s financial regime. The government’s measures to control money laundering were also steps in the right direction.

Mr Kenneth also expressed US government’s commitment to human resource development. Aziz informed the US official about Pakistan’s reform agenda.