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Finance Minister meets Executive Vice President of International Finance Corporation

Islamabad, October 09, 2014 (PPI-OT): The Finance Minister, Ishaq Dar met EVP IFC Mr. Jin Yong Cai and his team and discussed IFC’s program portfolio in Pakistan. Mr. Cai appreciated the policies of the Government and informed that IFC’s presence in Pakistan was 2nd biggest in the region. Mr Cai elaborated that IFC is most actively involved in financial sector and was looking for investment in Power Sector.

He said that IFC was investing $125 million in 3 Gorges Company for investment in South Asia which will finance quality projects in the region and Pakistan will especially benefit from it. He informed that IFC was closely examining the privatization of Distribution companies and was interested to participate in the process.

Finance Minister appreciated the interest of IFC in Pakistan and invited him to participate in financing of Diamir Basha Dam. Finance Minister informed him about the successful holding of Diamir Basha Dam Opportunities meeting. Mr Cai said that he will do risk profiling of the project and inform the government about it.

Talking about Trade CEO IFC assured Finance Minister Dar of his continued support towards initiation of US $ 9 million program aimed at improving the labor standards in Pakistan, to bring them in line with the international requirements/ standards.

This would in turn give a positive boost to the textile industry of Pakistan with respect to its exports. He spoke of a Buyers Forum being organized in Islamabad in collaboration with the Government of Pakistan towards the end of the current year. IFC further committed to support Pakistan at all relevant forums towards the creation of an improved business and investment climate.

For more information, contact:
Director General (Media)
Nadeem Haider Kiani
Ministry of Finance
Government of Pakistan
Room # 514, Block-’Q’, Finance Division,
Pak. Sectt. Islamabad
Tel: +92-51-9211707, +92-51-9208281, +92-51-9206382
Fax: +92-51-9210877
Email: so_coord1@finance.gov.pk

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