Pak wants economic assistance from Japan: Tari

ISLAMABAD: Adviser to Prime Minister on Finance Shaukat Tarin Saturday urged Japan to set exclusive economic zones in Karachi and Gwadar as Pakistan was interested in developing its agriculture, manufacturing and energy sectors with the assistance of Japan. Pakistan will not expect any monetary help from Japan , but definitely would appreciate economic assistance against a menue of projects, says a message received here from Tokyo on Saturday. Shaukat Tarin said this while briefing Japanese media after holding meeting with Japanese Prime Minister. Mr. Tarin who is currently visiting Japan said ‘we have asked Japan to set exclusive economic zones in Karachi and Gwadar. He said, Pakistan was interested in developing its agriculture, manufacturing and energy sectors with the assistance of Japan . Strategic needs of Pakistan , such as development of water resources, roads, railways and poverty reduction were also discussed with Japanese leaders, he added. He said Pakistan was a frontline state in war against the terrorism, which has badly affected its economy. “I go back with the hope that Japan as a close friend of Pakistan will stand side by side with it in the war against terror” he said. Responding to a query, the Finance Adviser said, our economy is stabilizing after the shock of high oil and food prices. However, Pakistan was still in need of five billion dollars aid per year approximately for the next three to five years, he added. Responding to another question, he said that Pakistan ‘s total local and foreign loan was U.S.$ 46 billion funds. He said that efforts were being made to reduce current budget deficit and bring down inflation. Fiscal deficit was controlled to great extent, he added. He said that Pakistan ‘s growth rate for current financial year would be 3.5% but during next financial year it could easily reach to five per cent. Responding to one question he said there was consensus among all political parties on the important national issues. However, difference of opinion on many issues was part of the democratic system, he added.To another query he said that friends of Pakistan conference will probably take place in March 2009. ‘We welcome it if Japan hold the said conference in Tokyo ‘, he said