UK keen to expand bilateral trade with Pakistan

The British Secretary of State for Foreign and Commonwealth Affairs William Hague on Tuesday laid emphasis on the expansion of trade by creating more opportunities between Pakistan and Britain and said both countries have strong history of bilateral trade relationship. He said this while talking to the Federal Minister for Finance and Economic Affairs Dr. Abdul Hafeez Shaikh in his office. He was accompanied by Adam Thompson British High Commissioner in Islamabad and other members of his team.During meeting, Finance Minister briefed visiting Secretary of State current economic situation of country and apprised him of various achievements the government has made during last four years particularly in lowering down inflation rate. The Minister said that present government is quite aware of economic difficulties of vulnerable groups of society and hence increasing allocation to Benazir Income Support Programme.He said despite natural calamities in country we have managed 3.7pc growth rate and have historic exports in spite of global downturn trend. The Minister said that we have controlled administrative expenditure. He maintained that this government is giving priority to completion of ongoing projects instead of initiating new ones. He said that under 7th NFC Award we have disbursed 65pc to 70pc of collected revenue among provinces, that is more than Rs 600 billion additional amount to provinces. The Minister also said that we have collected twenty-five percent more taxes than previous years which is unprecedented and this will help improving the Tax – GDP ratio.The major themes of budget 2012-13 are macro-economic stability, pro-investment policies, looking after vulnerable groups and eradication of unemployment by creating more jobs, Minister added.