islamabad-Finance Minister Senator Ishaq Dar on Tuesday said that economy has started to show positive results as a result of structural reforms and measures introduced by government, as tax collection, GDP growth rate and foreign exchange reserves are moving up and the rate of inflation is going down.
He said this while talking to Hiroshi Inomata Ambassador of Japan to Pakistan who called on him.
The Ambassador congratulated the Finance Minister on the successful roadshows and the launch of Euro Bonds worth $2 billion in the international financial market which is the result of hard work and confidence building measures adopted by the present government. The Ambassador appreciated that all the economic indicators of the country are showing positive development and are a sign that the country is moving fast on the road to prosperity.
The Minister informed that Pakistan is working on a model where private sector takes the lead and it is high time for our friendly countries like Japan to get benefit from investor-friendly atmosphere of Pakistan. He further said that there is huge potential in Pakistan’s energy and communications sectors for foreign investment. The Minister informed the Ambassador that Karachi Circular Railway Project is one of the top priorities of the country. The Japanese Ambassador assured the Minister that Japan fully supports the reforms programme and economic policies undertaken by the present government and looks forward to renew its economic relations with Pakistan. He mentioned that 5 billion Japanese Yen loan programme for energy sector reforms will be announced soon. In another development, Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting of the Committee formed by the Prime Minister to resolve long standing trade issues between Pakistan and Russia at the Finance Ministry today.
Tariq Fatmi, SA to PM on Foreign Affairs updated the committee on the position of the Russian Government on the 15 years old trade related financial disputes between the Russian Government and the private businessmen. He informed that he has conveyed to the Russian Ambassador that the Government of Pakistan is serious to play its role in resolution of disputes and that the Prime Minister desires for early settlement of this impediment which can provide an opportunity for enhancing trade relations in accordance with the potential of the two countries.
Chairman BoI, Mifttah Ismail informed the Committee that the parties to the dispute have expressed their inclination for early settlement and that he has met with the Pakistani businessmen who are party to the litigation in the courts. He expressed the hope that by first week of May, negotiations with the Pakistani businessmen will be in a clear shape to take forward the proposals to the Russian side.
Khurram Dastagir Khan, Minister for Commerce emphasised on a definite timeline for resolution of the dispute and informed that the Commerce Ministry is vigorously pursuing the efforts. He said that dispute is an impediment to enhancing cooperation between the two sides in energy and infrastructure development sectors. The Finance Minister said that our officials approach should be honest and honourable in resolution of this issue. He said that the solution should be win win situation for both the Russian Government and our businessmen.
He said that there is a visible desire in the political leadership of the two countries to move forward in trade and economic relations between the two countries.  He emphasised that the Russian side has already expressed its willingness to invest in railways and steel industries of Pakistan.

He added that both these sectors play an important role in communication and infrastructure development of the country. 
The Finance Minister directed the Board of Investment to work closely with the Ministry of Commerce and all the stumbling blocks should be removed after negotiations with the parties. He said that after completion of negotiations with the Pakistani businessmen, Chairman BOI will present his report for consideration to the Committee in the second week of May 2014.
Dr Waqar Masood, Finance Secretary, Shahzad Arbab, Commerce Secretary, Advisor to Finance Ministry, Rana Assad Amin and senior officials of the Ministry of Finance also attended the meeting.