President Islamic Development Bank meets Finance Minister

Islamabad, October 13, 2014 (PPI-OT): President IDB Dr. Ahmad Mohamed Ali Al Madani met with Federal Minister for Finance Senator Mohammad Ishaq Dar on the sidelines of World Bank and IMF Meetings in Washington. Finance Minister shared with the President, successful negotiations and signing of CASA-1000 Transit Pricing Agreement between Pakistan and Afghanistan.

The Finance Minister extended his gratitude for the consistent support from the Islamic Development Bank under the leadership of Dr. Ahmad. Senator Dar apprised the President of his recent productive meeting with Ms Madeleine Albright.

Senator Dar expressed his satisfaction on the progress of IDB sponsored projects in Pakistan and assured that further steps will be taken by the government to ensure expeditious completion of these projects, while the projects in the pipeline were being considered on priority.

Senator Dar thanked the President for IDB assistance in UCH Power Plant and Neelum Jhelum Project. The President opined that the cooperation between IDB and government of Pakistan would continue to increase. He assured that disbursements for ongoing projects will be made without any delays.

Senator Dar also apprised the President about the financial and social impact of North Waziristan operation as well as flash floods that have rendered thousands of people dislocated and displaced. He said that an estimated expenditure of US $2 billion for IDPs and $ 800 million for the flood affectees’ rehabilitation will incur for which international donors’ assistance has been solicited.

The Finance Minister apprised the President of positive trends exhibited by Pakistan’s economy endorsed by international rating agencies like JETRO and Moody’s. Senator Dar reiterated resolve of the government to pursue reform agenda which will yield dividends both in the short and long term.

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