Govt focuses on current debt situation: Minister.

ISLAMABAD -- Federal Minister for Economic Affairs, Sardar Ayaz Sadiq Tuesday said the government had focused on current debt situation and accepted the challenge.

The Ministry of Economic Affairs, in collaboration with United Nations Development Programme (UNDP), organized a high-level seminar to initiate policy discussion and generate recommendations for the government, said a press release issued here.

Sardar Ayaz Sadiq, warmly welcomed all the participants including policy advisers, representatives of government, members of financial institutions, UN agencies and foreign development partners to deliberate on the current economic situation of the country and to propose sustainable solutions.

During his address, the minister highlighted that the seminar aimed at deliberating the existing and regional economic scenarios with relevance to Pakistan and was focused on current debt situation and challenges posed by it.

Moreover, it proposed strategic recommendations and sectoral solutions for effective debt management to maintain financial stability and insulate Pakistan's economy from external shocks.

The minister also stated that the global economic repercussions caused by the COVID-19 pandemic and ongoing Russian-Ukraine conflict had rapidly increased global prices of food and fuel and adversely affected not only Pakistan's growth trajectory but the world over.

He also highlighted the problematic projects that were facing chronic delays on which he had stressed, during National Coordination Committee's meeting, for regular follow-up meetings with executing agencies and stakeholders for due monitoring and prompt resolution of the issues.

Moreover, the minister apprised that the government was also taking provinces into confidence to resolve both short-term and long-term issues including water depletion issue for which a committee was also formed to resolve this issue between province of Sindh and Balochistan.

Mian Asad Hayaud Din, Secretary, Ministry of Economic Affairs, in his closing remarks, thanked United Nations Development Programme (UNDP), UN Wing of the Economic Affairs Division, guest speakers, experts, resource persons, and audience for attending the policy seminar.

He apprised that since 1950, Pakistan has...

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