ISLAMABAD: The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting Friday at the Finance Ministry with the delegation of Standard Chartered Bank led by its CEO Mr. Shahzad G. Dada.
The Finance Minister talking to the delegation said that Pakistan has entered a new era of development and now with the political stability intact the Government will fulfill its commitment for the development of the economy as it is promised in the PML-N manifesto. Pakistan of 2015 is different from the Pakistan of 2012 and the banking and finance sector has contributed well in this progress.
The delegation discussed with the Minister the possibilities for financing the Dasu project as it is of vital importance to Pakistan and will also be profitable for the potential investors.
Mr. Dada thanked the Finance Minister for his strong oversight of the Banking sector. At the same time, Mr. Dada reiterated Standard Chartered’s commitment toPakistan as the largest and the oldest international bank operating in the country. He also expressed the resolve to contribute positively in the future development projects of the country as Pakistan has become an important destination for the investors.
The Federal Minister for Finance also held a meeting with the delegation from NUSTUniversity led by the Rector Lt. Gen. (R) Engr. Muhammad Asghar.
The delegation gave a presentation to the Minister on the establishment of (500 bed) NUST Teaching Hospital and School of Health Sciences in Islamabad. Mr. Asghar briefed the meeting on the background of the project and problems faced in the completion.
IDB had agreed to provide financing facility for the project to the tune of $61.95 million which includes civil works as well as machinery and equipment. ECNEC approved the project in 2010.
The Finance Minister assured the NUST management for his full support in the completion of the project. He also advised the management to make realistic assessments of the financial requirements of the project and expedite pending actions.
The Minister also directed his team to propose rules for the reappraisal of cost of different projects if they are not completed due to technical reasons within certain period of time.
The delegation thanked the Minister for taking interest in the project that will help in providing high standard health and education facilities to the people of Pakistan.