Continuity, consistency of policies must for prosperity: PM
By Khalid Amin

ISLAMABAD—Prime Minister Shaukat Aziz Tuesday said continuity and consistency of policies was vital for ensuring economic growth and prosperity of the country.He was addressing a function at the PM House, following an agreement signed between First MicroFinance Bank Ltd (FMFB) and the Pakistan Post to reach out to the poor living in the remotest areas of the country.
The agreement will help the FMFB to utilize over 12,000 post office network across the country to facilitate disbursement of Rs 15 billion to millions of clients over a period of three to five years. He said the public-private partnership would help improve services for the people and extend services throughout the country.
The Prime Minister pointed that Pakistan is the first country to have passed a law to regulate micro-financing, that has been recognized internationally. Aziz said the strategy undertaken by the government has also been acknowledged by the world renowned economist Dr Younas.
Prime Minister Shaukat Aziz said the government has embarked on a poverty reduction strategy to provide social services, electricity, health, education, water, sewerage and road networks, to the most vulnerable sections of the society.
He said the government through a combination of macro and micro finance strategies was combatting poverty and has helped it bring down to around 24 percent from 34 percent. He said the per capita income and size of the economy have doubled, the number of motor vehicles on Pakistan’s roads have seen phenomenal increase, besides the increase in number of motorbikes, television sets, air-conditioners and even electricity fans, to cater to increasing income.
Aziz said the government was still facing challenges in combating poverty and has embarked on a holistic approach to tackle it by generating economic activity, training the unskilled and providing the people capital to start their own small ventures.
The Prime Minister said when President Musharraf took over eight years back, the poverty was rising and a holistic approach taken to address it.
He said the country has a large base of unskilled and uneducated people who cannot be ignored by the government and were now being provided skills and capital to undertake their own small business. He said education and skills improvement is the key for better utilization of opportunities. Prime Minister Aziz said the post office services have been underutilised and can use the FMFB services to expand these further. Earlier, DG Post Office Arshad Khan, Chairman FMFB Sajid Zahid, Governor State Bank Dr Shamshad Akhtar and Minister of Communication Shamim Siddique said the agreement will provide quality microfinance services to the very poor and vulnerable population in rural and urban Pakistan.