IS­LAM­ABAD

The Pak Banker - - FRONT PAGE -

Fi­nance Min­is­ter Sen­a­tor Mo­ham­mad Ishaq Dar said that hav­ing achieved eco­nomic sta­bil­ity, the govern­ment was now fully fo­cused on achiev­ing growth and em­ploy­ment gen­er­a­tion. He said the govern­ment highly ap­pre­ci­ated the con­tri­bu­tion of the World Bank for var­i­ous de­vel­op­ment projects and said the re­cent visit by the bank's pres­i­dent proved fur­ther boost to fos­ter­ing Pak- World Bank co­op­er­a­tion.

Ishaq Dar stated this while chair­ing a meet­ing which re­viewed port­fo­lio of World Bank projects in Pak­istan. In this con­nec­tion, World Bank Coun­try Di­rec­tor, Pochu­muthu Il­lan­go­van along with other se­nior World Bank of­fi­cials at­tended the meet­ing.

Se­nior of­fi­cials of the Fi­nance Divi­sion, Eco­nomic Affairs Divi­sion (EAD) and Fed­eral Board of Rev­enue (FBR) were also present. Pochu­muthu Il­lan­go­van on this oc­ca­sion said the World Bank would con­tinue to fi­nance dif­fer­ent projects in Pak­istan and that he looked for­ward to fur­ther strength­en­ing Pak-World Bank co­op­er­a­tion in fu­ture. The re­forms, it may be men­tioned aim at en­hanc­ing the in­vest­ment cli­mate, pro­mot­ing cap­i­tal mar­ket de­vel­op­ment, en­hanc­ing fi­nan­cial in­clu­sion, cor­po­rate gov­er­nance, im­prov­ing debt man­age­ment and ex­pand­ing so­cial pro­tec­tion. Mean­while, Ger­many agreed on Fri­day to pro­vide as­sis­tance of Euro 125.7 mil­lion in var­i­ous sec­tors in­clud­ing health, en­ergy, tech­ni­cal and vo­ca­tional train­ing. An ac­cord sign­ing cer­e­mony was held in this re­gard here at min­istry of fi­nance in which Tariq Ba­jwa, Sec­re­tary Eco­nomic Affairs Divi­sion (EAD) signed the four agree­ments from Pak­istan side while Am­bas­sador of Ger­many to Pak­istan Ina Lepal signed the agree­ments form the other side.

Min­is­ter for Fi­nance, Sen­a­tor Mo­ham­mad Ishaq Dar wit­nessed the sign­ing of the agree­ments. Speak­ing on the oc­ca­sion Ishaq Dar said out of to­tal as­sis­tance, an amount of Euros 98.7 mil­lion was a grant while the re­main­ing Euros 27 mil­lion would be in shape of soft loan. Ac­knowl­edg­ing the role of Ger­many in help­ing Pak­istan govern­ment in achiev­ing sus­tain­able so­cioe­co­nomic ob­jec­tives, Ishaq Dar stated that Pak­istan val­ues Pak-Ger­man part­ner­ship dat­ing back to 1961. He em­pha­sized the need to not only en­hance bi­lat­eral coop- er­a­tion in trade, en­ergy and so­cial sec­tors as well as pro­mot­ing bi­lat­eral trade and in­vest­ment and more peo­ple to peo­ple con­tacts.

Both sides ex­pressed the re­solve to con­tinue work­ing to­gether to en­hance bi­lat­eral ties in ar­eas of mu­tual in­ter­est. The Ger­man Am­bas­sador high­lighted 56 years of suc­cess­ful Ger­man-Pak­istani co­op­er­a­tion with the af­fir­ma­tion to con­tinue the same for mu­tual ben­e­fit of the two coun­tries. She also stressed Ger­many's last­ing sup­port to Pak­istan in health, en­ergy, tech­ni­cal and vo­ca­tional train­ing, sus­tain­able de­vel­op­ment, sup­port to TDPs and Refugees. She also in­formed that Ger­many would soon start new com­mit­ment with Pak­istan to pro­vide fur­ther Euro 94 mil­lion in var­i­ous sec­tors.

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