Alice Wells vows to engage with Pakistan

Islamabad: 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, Alice G. Wells along with the U.S. Treasury

officials comprising Scott Rembrandt, Deputy Assistant Secretary, Grant Vickers, David Galbraith and others

held a meeting with Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue 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 Ms. Alice G. Wells appreciated the briefings and steps taken by the government.