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EU wants strong economic ties with new govt

Updated August 07, 2018


ISLAMABAD: European Union Ambassador to Pakistan Jeans Cautain on Monday said the EU is keen to work with incoming government of Pakistan Tehreek-i-Insaf (PTI) and ready to start joint ventures with local businesses in the fields of security, economy, education and rural development.

During a meeting with Imran Khan at his Bani Gala residence, the EU envoy said that the EU had no objection to Pakistan-Iran gas pipeline project despite looming US sanctions and is committed to development and stability in the region.

He said the EU was also ready to help Pakistan out of the Financial Action Task Force ‘grey list’.

Fixing ailing economy

Expressing concerns over the worsening macroeconomic situation, PTI’s Asad Umar said that the country’s debt is increasing with every passing day and requires immediate action.

Talking to a private channel on Monday, he said that all options including International Monetary Fund loan to revive the economy are open. He ensured that no alteration would be made to existing tax rates; however, the government will bring some new commodities under the tax net.

Mr Umar said the government would issue special investment bonds for overseas Pakistanis, and investigate the $200 billion stashed away in Swiss banks by Pakistani nationals in order to bring stolen wealth back in to the country.

He said that measures will also be taken to improve agriculture sector output.

Wooing overseas Pakistanis

Asad said that overseas Pakistanis would be accommodated under new government. “Overseas Pakistanis would enjoy security of their money after investment in Pakistan,” he commented while talking to a private news channel.

He said that overseas Pakistanis have been facing difficulties in investment back home, adding that all options are being explored for the betterment of economy.

Ensuring continuity in the economic policies, he said that all trade agreements signed by the previous governments with foreign countries, including the deal for import of liquefied natural gas would be presented before the parliament.

“It would ensure transparency in the Federal Board of Revenue (FBR) to root out the evil of corruption”, he said while sharing PTI’s plans to fight rampant corruption in the country.

Published in Dawn, August 7th, 2018