There is lot of questions can be raised on the validity of the contants of press releases of Finance Minstry regarding meeting between Justine Greeting, MP, UK Secretary of State for International Development and Dr. Abdul Hafeez Shaikh.
According to the press release of Finance Ministry, "Dr. Abdul Hafeez Shaikh gave presentation to the UK official an overview of Pakistan’s economy and informed the visiting delegation that despite US $ 10 billion damage caused by massive floods and the effects of War on Terror, the economy is on its path to consolidation during the tenure of the present democratic government. He said that the federal tax revenue has been increased by 21% and growth rate will be over 4% during the current financial year. Moreover, Pakistani Stock Market in one of the best performing stock markets in the world. Dr. Abdul Hafeez Shaikh further said that result oriented structural reforms have been under taken to further improve Pakistan’s economy and introduced private sector oriented initiatives for uplifting economy. Movement from untargetted to targetted subsidies is landmark achievement of the current government and Benazir Income Support Programme is one such example. The Finance Minister further said that the present government believes in consolidation and strengthening of institutions".
There are questions about the contants of the press release.
1- Tax revenue increased by 21 percent.
(But currently FBR revenue cllections increasing just by 4 percent)
2- GDP growth more than 4 percent in current year.
(But 3.8 per GDP growth projected by IMF and World Bank)
3- Stock Market performance
(But stock Market is not substential growth rate since 2008)
5- Believes on strengthening of institutions.
(But state institutions are confronting to each others for authority).
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