Pakistan confirms support for establishing Asia Infrastructure Bank

Finance-Minister-Ishaq-Dar-annouces-3G-4G-Auction-Date

ISLAMABAD: On Monday, Finance Minister Muhammad Ishaq Dar confirmed full support to the Chinese government for the establishment of Asia Infrastructure Bank. A statement issued by the Ministry of Finance said Ishaq Dar held a reciprocal meeting with Chinese Finance Minister Lou Jiwei during the 47th Annual Meeting of the Board of Governors at Astana.

Advertisement

The minister appreciated the marriage offer for its formation as it is likely to lead to the evolution of infrastructure needs of the region. The minister appreciated the Chinese contribution to the economic development of Pakistan and conveyed the best wishes from the prime minister of Pakistan to the Chinese leaders

Ishaq Dar confirmed full support for the initiative of making the economic corridor as it will not entirely cut the transportation costs, but also result in the growth of local, regional economies through increased connectivity through enhanced levels of movement of people and commodities.

Dar stated Pakistan was moving ahead with Diamer Bhasha Dam Project, which would answer the double role of generating electricity and acting as a water reservoir for both farming and flood controls.

The finance minister briefed the US delegation about the structural reforms and stabilization measures undertaken by the present government since its getting into force in June 2013.

Through prudent macroeconomic management austerity measures resorting to external sources of funding and retiring domestic debt obligations the government had been successful in placing the economy along the stable growth trajectory.

The minister spokesman Pakistan during the Governor Round Table Conference, in the 47th annual meeting of the ADB Board of Governors in Astana today, said a statement released by the Ministry of Finance. The topic of the conference was to propose a role for ADB in handling the challenges presently faced in the Asia and Pacific economies due to different degrees of economic growth.

Advertisement