ISLAMABAD, Dec 20: Dr Salman Shah, adviser to the prime minister on finance and economic affairs, said on Tuesday the government was planning to form a Cabinet Committee on Private Sector to spur growth and accelerate economic activities for socio-economic prosperity of the country.

He stated this while speaking as chief guest at the presentation of paper on “Human Capital and Economic Growth in Pakistan” at the 21st Annual General Meeting and Conference of Pakistan Society of Development Economists (PSDE) on the second day of the conference at a local hotel.

The paper on “Human Capital and Economic Growth in Pakistan” was presented by Mohsin S Khan, Director International Monetary Fund (IMF) Institute of the fund Washington D.C USA.

Dr Salman Shah highlighted the fiscal and monetary policies of the government and its positive impact on economic growth of the country.

He said that economic reforms initiated by the government during the past six years were paying off and as result the social and economic indicators had improved.

He said that the government after achieving macro economic stability was now focusing on second generation reforms and infrastructure development to sustain and trigger GDP growth.

Dr Shah said that as a result of the prudent economic policies and reforms of the government the per capita income had also increased.

He said that fiscal deficit was under control, the ratio of revenue to GDP had increased.

The adviser said that Consumer Price Index (CPI) was 11.5 per cent in November had now come down to 7.9 per cent.

The food inflation which was 15 per cent in November had also declined to 5.5 per cent and exports of the country had also increased.

“Pakistan’s balance of payment is quite comfortable now”, he remarked.—APP