We are expecting two tranches from IMF in December: Dar

UK supports CASA 1000 Project

ISLAMABAD (INP): Philip Barton, British High Commissioner and Richard Montgomery, Head of DFID called on the Federal Minister for Finance, Senator Mohammad Ishaq Dar at the Finance Ministry on Monday.

The Finance Minister exchanged views with the visiting dignitaries on efforts of the present government to deal with the issues of poverty alleviation, rehabilitation of the IDPs and relief work for the flood affectees.

The Finance Minister told Barton about his recent visit to USA. The minister said that he had a number of high level meetings and also attended the all important Diamer-Bhasha Conference. He said the project would receive positive response from different funding institutions.

Ishaq Dar also said that although the sit-ins negatively impacted many of our transactions which were of vital importance for Pakistan we have taken up our work on revamping of the economy with even greater zeal. We are expecting two tranches from IMF in December and hoping to complete the OGDCL transaction and sale of Sukuk bond very soon and this would improve our reserves situation and the Balance of Payments, the Minister added.

Mr. Richard Montgomery talking to the Minister said that UK is expecting Pakistan, as well as the rest of the world, to work on the projects of regional Co-operation specially CASA 1000 Project. The project on the basis of its potential would receive financial support internationally, he added. Finance Minister remarked Pakistan was also desirous of extending its economic ties with the neighboring countries and hoped the new Government in Afghanistan would be friendly to work with.

Mr. Montgomery also said they would continue to support the income support program in the future as well but also want its outreach to expand from the current 4.5 million people to 4.8 million people.

The Finance Minister said that the Income support program was close to his heart and he would ensure that it is managed and run in a fair and transparent manner.

The Finance Minister also said that he is deliberating upon establishing two separate funds for the rehabilitation of IDPs and flood affectees with the contribution and active support of different countries and international organizations.


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