LAHORE: The economy was now moving in the right direction as a result of structural reforms and measures taken by the present government.
This was stated by Finance Minister Ishaq Dar at a meeting with Hiroshi Inomata, Ambassador of Japan to Pakistan. During the meeting, they discussed bilateral economic co-operation between Japan and Pakistan, an official statement read.
Finance Minister said that the government was now focusing on doubling the present reserves to $ 16 billion by the end of the current financial year. The Japanese Ambassador said that Japan fully supports the reforms program and economic policies undertaken by the present government and looks forward to renew its economic relations with Pakistan.
The Ambassador said that a delegation of Japanese businesspersons would visit Pakistan in April this year to explore avenues of co-operation. He apprised the Finance Minister that the Government of Japan is increasing consumption tax from 5% to 8% as part of its plan to improve Japanese economy.
The meeting was attended by Advisor to the Finance Division Rana Asad Amin, Secretary Economic Affairs Division Nargis Sethi and senior officials of the Finance Ministry.