Kartarpur Corridor is a welcoming step for peaceful co-existence: Suleri - Press Release issued by Sustainable Development Policy Institute.

Islamabad -- December 04, 2018 (PPI-OT)

Following is the text of press release issued by Sustainable Development Policy Institute (SDPI)

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Indian response to Pakistan's goodwill gesture to open Kartarpur Corridor was unfortunate, however, Pakistan is still pinning hopes to strengthen SAARC cooperation in future. This was stated by Federal Minister for Finance, Revenue, and Economic Affairs Asad Umer while speaking at the inaugural plenary of 11th South Asia Economic Summit (SAES) held under the auspices of Sustainable Development Policy Institute (SDPI) in Islamabad on Tuesday.

We really need to think out of the box solutions for regional cooperation amid tensions and confrontations between the two states, the minister said, adding that Intra-regional trade, especially trade between India and Pakistan, is one of the major growth drivers. Stressing the need to create political space for regional cooperation, he said it is our inability that we failed to get people of the region out of poverty. It is a real opportunity for those political leaders, who believe in a peaceful and prosperous South Asia.

Highlighting the government's role in promoting cross regional energy transfer and inter-regional trade, Asad Umer said channelization of non-political forums to build political space for policy making is required for an effective cooperation among South Asian states.

Commenting on the recent dollar spike against rupees, the minister said that the neutrality of State Bank of Pakistan (SBP) is intact and we believe in autonomy of the institution whereas there is no change in the government policy. He said that the recent decision on exchange rate was taken by the central bank, however, there is a need to improve the communication mechanism, that's why the SBP governor has also been taken on board to devise a communication mechanism in this regard. If needed, we will further institutionalize the structure and role of SBP, he said, adding that the financing gap is complete and we don't have any current account crisis, though a lot needs to be done.

Dr Shamshad Akhtar, the former caretaker finance minister, said that this new age of globalization and digitization, amid nationalism call for enhanced regional cooperation and connectivity. She said that re-imagining regional connectivity is often costly and time-consuming and that require patience and leadership. Connectivity should not be constrained to road development but to have ICT...