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| September 20, 2003 | Saturday | Rajab 22, 1424 |
‘US wants to increase economic cooperation’
RAWALPINDI, Sept 19: US Treasury Secretary John Snow on Friday separately called on President Pervez Musharraf and Prime Minister Zafarullah Khan Jamali.
The United States is desirous of increasing bilateral economic cooperation with Pakistan and will play its role to support Islamabad in multi-lateral arrangements, US Treasury Secretary John Snow told President Musharraf.
President Gen Musharraf, while meeting with the US treasury secretary, called for greater interaction between private sectors of Pakistan and United States, saying he looked forward to increased investment in different fields.
The president expressed the hope that his visit would help strengthen economic relations between Pakistan and the United States.
Terming private sector an engine of economic growth, President Gen Musharraf said Pakistan valued its relations with the US, adding that the way forward for development was trade.
Commending Islamabad on what he termed remarkable economic recovery during the past four years especially in areas of finance, trade and good governance, Mr Snow attributed it to the government’s institutional reforms.
Mr Snow, while stressing need for a durable relationship between the two countries, assured that Washington would continue to support Pakistan in different fields particularly in poverty alleviation, health, education and human development.
Meanwhile, Prime Minister Zafarullah Jamali told US Treasury Secretary John Snow that the government would continue pursuing the economic reforms agenda, which has helped the country achieve a turnaround in the economic field.
The Prime Minister said that the breakthrough in revitalizing the country’s economy was achieved by strict financial discipline and prudent economic measures.
“All out efforts are being made to ensure continuity of the economic reforms in order to achieve enhancement of the growth rate for improving the quality of life of the people”, he added.
Lauding the country’s economic performance, Mr Snow termed it very impressive especially in lowering inflation and improving the balance of payment position.
He expressed the hope that the Pakistan-US cooperation in the economic field would grow in the coming years.
Finance Minister Shaukat Aziz, State Bank of Pakistan Governor Dr Ishrat Hussain and US Ambassador to Pakistan Nancy J. Powell were present during both the meetings.—APP
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