15 January 2005	Saturday	04 Zilhaj 1425

LAHORE, Jan 14: State Minister for Finance Umar Ayub Khan on Friday hoped that inflation rate would remain restricted to the level of 5 to 6 per cent during the current fiscal year.

Talking to newsmen after inaugurating the two-day Regional Conference of Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Chartered Accountants of India (ICAI) at Aiwan-e-Iqbal here, the minister said that rapid economic activity usually casts inflationary effects.

About the launch of Islamic Bond, Sukuk, he hoped that this bond would also receive good response like the Eurobond floated by Pakistan in the recent past. He said that the Islamic bond's launch would also make Pakistan known in the world financial markets.

The minister said that the commodity exchange would be operational within couple of months. Talking about government's efforts to invest more in the human resource development, he said that a programme for the training of youth in technical and vocational fields would be rolled-out during this quarter.

"Under this programme, marketable skills will be disseminated to the people," he said. He said that there was great demand for skilled labour and professionals in the booming sector of construction.

Umar said that the National Rural Support Programme, presently operational in 74 districts of the country, would be extended to 16 more districts in Sindh and Balochistan.

Earlier, speaking at the inaugural session of the conference, the minister hoped that Pakistan would achieve a GDP growth rate of 6.6-7 per cent this year against last year's 6.4 per cent.

Mr Umar said that agriculture sector was poised to grow at a rate of 4 per cent this year despite drought-like situation confronting the country over the last four years. "The rapid growth in industry and agriculture sector means more money for the people and greater opportunities for the professionals," he said. -APP