Addressing Pakistan-US investment conference in Dubai on Tuesday, he said that national economy faces major challenges of deficit and balance of payment. He said that another challenge confronting the country is energy shortage.
The finance minister said that subsidies would now be targeted at particular segments of the population and a strong social protection system would be introduced to tackle the issue of poverty.
Ishaq Dar said Pakistan wants strong economic ties with international community and with the United States in particular.
He said the Pakistan Muslim League-Nawaz (PML-N) government has taken a bold initiative to settle circular debt and is taking steps to ensure that it does not recur in future.
“This one step should help raise the confidence of investors and investment in this critical sector should resume,” said the minister.
Earlier addressing the conference, Water and Power Minister Khawaja Asif said a vast scope of investment exists in Pakistan’s energy sector. He said investment-friendly environment prevails in the country due to an independent judiciary and vibrant media.
Khawaja Asif said the government plans to begin process of privatization of state-owned enterprises on priority basis.