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Asia leading in reducing poverty through phenomenal economic growth: Dar.

ISLAMABAD -- Federal Finance Minister Senator Ishaq Dar on Saturday said that Asia is leading this endeavor of reducing poverty through its phenomenal economic growth.

'Around 125000 people are coming out of poverty on daily basis globally,' the Finance Minister added while addressing a Round Table Conference on the theme, 'Responding to Rising Inequality' held in connection with Asian Development Bank's (ADB) 50th Annual meeting of the Board of Governors in Yokohama, Japan.

The Finance Minister stated that, 'Developing world had made remarkable progress in lowering incidence of poverty in last two decades.'

Referring to the economic turnaround in Pakistan, the Minister said, 'After having achieved macroeconomic stability, Pakistan is now focused on achieving higher, sustainable and inclusive economic growth.'

Highlighting the issue of rising inequality, the Minister said, 'Income inequality was only one aspect of inequality whereas disparities in terms of gender, region etc also needs to be addressed to ensure sustainable development.'

In this regard he referred to the Pakistan's Vision 2025 which prioritized investments in human capital and social services, recognized the importance of inclusive and balanced growth and shared prosperity aiming at redressal to geographical and social inequality.

He added that, 'Present Government in Pakistan strongly believed that benefits of growth must be shared by all segments of society, especially the marginalized groups.'

The Minister highlighted the efforts to deal with horizontal and vertical inequalities including access of poor to health and education, endowment fund for education, work on social safety nets, skills development, disaster mitigation, increase in Benazir Income Support Programme (BISP) budget allocation and implementation of National Financial Inclusion Strategy (NFIS).

The Minister showed confidence that development partners, including ADB would play important role in addressing inequality.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:9PAKI
Date:May 7, 2017
Words:340
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