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Thursday, February 25, 2010

Personal business and not difference reason for resignation: Tarin

ISLAMABAD, Feb 25 : Citing his personal business as the main reason for his quitting, Finance Minister, Shaukat Tarin said here on Thursday that he did not resigned from the post due to difference on various issues with the government.Talking to media persons after chairing a Seminar on Demographic Transition, the federal minister said that he had difference with government on some issues, but these were not reason for his resignation.

He said that he has been criticizing certain government policies but did not run away due to these differences and denied that there was any pressure on him.He said that he resigned from the post to concentrate on his bank business as it was crucial time for his bank to raise capital for its survival.Tarin said that he was one of the three sponsors of the bank adding that earlier the bank managed to execute even without his active participation but now it needed capital for existence.It is the matter of existence of the whole bank and being a Finance Minister, it does not behove me to raise capital for my personal bank he said adding that he wanted to set a good example of governance by resigning from the post of Finance Minister and not to raise capital for the bank while being on this post.“I could ask people for capital but I cannot do so being an advocate of good governance,” he remarked adding that this is the reason I am resigning.He said that the government has already launched 9 point agenda for bringing economic stability in the country adding that implementing the agenda in letter and spirit needs political will to follow.He termed the war on terror as major challenge for economy and investments.He however, stressed the need for enhancing revenue collections, adhering to austerity measure to reduce government expenditures and involvement of private sector in the country’s development to ensure sustainable economic growth.“We have to stand on our own feet instead of borrowing,” he remarked.To a question, he said that nominating next finance minister was the prerogative of the Prime minister however added that the successor should be a powerful candidate and his appointment should be made on merit. To a question, the finance minister said he would try his best to resolve the issue of circular debts during upcoming meeting scheduled on Feb 27.He said that government should devise comprehensive strategy for minimizing use of gas and furnace oil in generating electricity adding that the country was having other resources to generate electricity which would be beneficial in long term for the country.He said that he assumed the difficult job of Finance Minister at a crucial time when the country was passing through crisis time. APP

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