KARACHI: “No major changes are contemplated in the financial and economic policies” of Pakistan, said Mr N.M. Uquaili yesterday soon after taking over as the country’s new Finance Minister.

Talking to this correspondent in his new office in Tughlak House, Mr Uquaili said “these policies were framed in the best interest of the country and judging from the results achieved so far under difficult and trying conditions, these policies have proved a success.”

He said, “The country is passing through the most important and difficult period of its planning for development. It has admirably withstood the shock of last year’s war with India and has also done well in maintaining the pace of development in spite of all odds. Yet, there is no room for complacency. The tasks ahead call for bigger effort.”

“The major problem on the economic front facing the country,” he continued, “is the need for accelerating the pace of development and sharply increasing production in all sectors of the economy, particularly in the field of agriculture, so as to achieve self-sufficiency in food in the shortest possible time. The population explosion also needs to be controlled.”

“We also have to ensure a reasonable price level, maintain the stability of the currency, and boost our exports to be able to maintain a liberalised import policy,” he added.

[Meanwhile, as reported by agencies from Saigon,] the United States increased the intensity of its air war against North Viet-Nam yesterday [Aug 24] by flying a record number of bombing missions against the North — 146 in a single day.

The heavy raids included attacks on 18 oil storage depots and a destructive raid on a freight train. Pilots claimed hits on five of the box cars.

In South Viet-Nam US marines were reported late last night to be still engaged in light fighting only five miles from the demilitarised zone between North and South Viet-Nam.

Published in Dawn, August 26th, 2016