QUETTA (APP) - Former federal finance minister Shaukat Tarin on Monday said that the present government has successfully overcome the serious financial and economic problems which it inherited from the previous regime. Addressing the luncheon arranged by Balochistan Finance Minister Mir Asim Kurd Gailo in his honour, Shoukat Tarin further said that in order to evade the menace of financial crunch the previous regime issued currency notes worth Rs.1300b which ultimately resulted in 25pc inflation. He added that before the advent of the present government the amount of the foreign exchange had decreased considerably and the government had to eliminate subsidies and impose taxes on commodities. However, these measures provided enough space to the government which was able to tackle the serious financial issues to a great extent. He added that currently the inflation has come down to 12% and the government is making hectic efforts to control the prices of the edibles also. Stressing the formation of committees on Sectoral Basis, Mr. Tarin maintained that in suppression of the hitherto prevalent Trickle Down economic policy, he had forwarded a nine-point agenda which could effectively alleviate poverty and stabilize the economy of the country. Admitting the power crisis as grim he advised that the government have to take more steps in order to overcome the issue of energy shortfall. While underlining the importance of the NFC Award 2009 he appreciated the positive roles played by the center as well as the provinces and said that the Award eliminated the trust deficit prevailing among the Center and the units. He advised the Balochistan Government to establish a Future Development Fund which should be spent on development and better utilization of the natural resources. He also offered his full support and services to the province and held that Balochistan had ample opportunities for economic development and growth. Earlier, Chief Minister Balochistan Nawab Aslam Khan Raisani and Finance Minister Mir Asim Kurd Gailo very warmly welcomed the guests including Chief Minister Sindh, who also holds the portfolio of Sindh Finance Minister, Syed Qaim Ali Shah and Punjab Finance Minister Tanveer Ashraf Kaira. In his welcome address Balochistan Finance Minister Mir Asim Kurd Gailo appreciated the role of the former federal finance minister Sardar Shaukat Tarin. Members of the Balochistan cabinet and senior government officials were present on the occasion.