ISLAMABAD, Aug 06 (DNA): Ambassador of the USA in Pakistan, Ms. Alice G.
Wells has expressed that the US would continue to remain engaged with
Pakistan in its economic reforms efforts and help build an environment
that facilitates business development between the two countries.

A US delegation led by Ambassador of the USA in Pakistan, Ms. Alice G.
Wells along with the U.S. Treasury officials comprising Mr. Scott
Rembrandt, Deputy Assistant Secretary, Mr. Grant Vickers, Mr. David
Galbraith and others held a meeting with Mr. Abdul Hafeez Shaikh,
Adviser to the Prime Minister on Finance & Revenue today at Finance
Division, Islamabad on Tuesday.

The Adviser briefed the visiting delegation on measures pertaining to
economic reforms being undertaken by the Government of Pakistan to
ensure economic discipline, efforts being made towards implementation of
FATF Action Plan and the key challenges being faced.

He emphasized the importance of bilateral engagement with the US and the
need to encourage entrepreneurs from private sector of both the
countries which will lead to enhanced trade.

The Adviser informed that over the past three months, the Government has
taken significant steps to bring financial discipline that include
reduction in Current Account deficit, focus on increasing revenue
generation, measures to reduce fiscal expenditures, reduce fiscal
borrowings, efforts to enhance foreign exchange reserves through
bilateral and multilateral support, arrangement of petroleum credit
facility with KSA and IDB and IMF Program.

Further, as part of its institutional development initiative, SBP and
FBR are being resourced and empowered. At the same time to support
economic growth and facilitate the people below the poverty line,
various Programs to support our export oriented industries and health
insurance schemes have been introduced for the poor.

Regarding, implementation of FATF Action Plan, the Adviser briefed that
the government is putting in all-out efforts to complete the Action
Plan, involving all relevant authorities at the federal and provincial
levels, supported by capacity building through international partners.

The Adviser expressed Government of Pakistan’s commitment to enhance the
effectiveness of its AML/CFT Framework being undertaken by the
government of Pakistan, with the objective to ensure that all the
actions that are being taken to curb Terror Financing are irreversible
and sustainable.

The Adviser urged for continued support of the international community
for strengthening of the AML/CFT Framework over a longer period of time.

Ms. Alice G. Wells appreciated the briefings and steps taken by the
government. DNA