ISLAMABAD: Minister for Finance Syed Naveed Qamar has said no confrontation is expected between the PPP and the PML-N in the Punjab as the leadership of both parties is convinced that it is not in the interest of country.

In an interview with a TV channel, he said that by and large direction of both parties — the PPP and the PML-N — is the same, having a few minor differences. “Rather there is a strong possibility that the PPP and the PML-N would once again work together to ensure prosperous Pakistan,” he said.

Expressing satisfaction on the election of Asif Ali Zardari as the President, he said there would be no confrontation between the president and the prime minister as for the first time in history, the president, the prime minister and the provinces were in complete harmony.

He said subsidies on various items would be phased out gradually. In Pakistan, oil consumption is still high due to artificial prices as the government is still paying a subsidy of Rs 18 per litre on diesel.

A plan, he said, has been devised to reduce the borrowing from the State Bank of Pakistan. Money would be raised from public through national saving schemes. Major expansion is going on in the network of the Utility Stores Corporation of Pakistan to cope with the menace of price-hike and soon each union council in the country would have a Utility Store.

Responding to a question, he said the economy performed well in the month of July. Record remittances were received, while revenue collection has increased by 40 per cent. This positive trend also continued in the month of August, the minister said.The country was on a positive direction. However, inflation and devaluation of currency were areas of major concern for the government, Naveed Qamar concluded.