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Government’s clarification regarding Dr Hafeez Shaikh’s meeting with Asian Development Bank delegation

Islamabad, October 19, 2012 (PPI-OT): The Spokesman of the Finance Division clarified today that certain aspects of the meeting of the Finance Minister with the delegation of the Asian Development Bank had been incorrectly reported owing to some miscommunication with the media.


He said that the ADB delegation was a “Board Group”, not a “Review Mission”, and had called upon the Finance Minister as a matter of periodical routine to discuss matters of mutual interest relating to development cooperation between the Bank and the Government of Pakistan.


The spokesman further explained that in response to a question regarding declining investment in Pakistan that had been put by a member of the ADB delegation, the Finance Minister had said that the declining trend in investment in the country appeared to have generated more concern than it legitimately ought to have. He added that the Minister had not made any specific reference to any report in the media on the issue of investment.


The spokesman also clarified that the critical aspects of future cooperation with Pakistan’s major development partners in social, economic and financial policies and initiatives, in particular mega projects such as the Diamir Bhasha project, had recently been discussed with Mr. Haruhiko Kuroda, President of the Asian Development Bank, during the talks in Tokyo, and that hence there had been no need to make any request for funding to the ADB delegation in the meeting.


The Spokesman further said that the Minister had explained to the ADB delegation that in spite of the huge challenges created by Pakistan’s war against terror and by natural calamities like the catastrophic floods in 2010 and devastating rains in 2011, as well as by the costs imposed by international markets, especially in terms of very high oil prices, the government had been successful in maintaining a very reasonable rate of economic growth, which was estimated to be over 4 percent in the current financial year.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326
Email: piopid@gmail.com

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