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Ishaq Dar meets Executive Vice president China Development Bank

Islamabad, October 24, 2014 (PPI-OT): The China Development Bank has evinced interest and agreed to be the local sponsors of an awareness conference for prospective investors for the construction of the 4500 MW Diamer Bhasha dam for power generation.

This transpired during Federal Minister of Finance and Revenue Senator Mohammad Ishaq Dar’s meeting with Zhao Xiaoyu the Executive Vice President of China Development Bank in Beijing today. During the meeting held in a very cordial atmosphere, the Minister expressed gratitude of the Government of Pakistan for CDB’s solid support in the past and hoped for continued support and cooperation.

Minister Ishaq Dar said that the present government was on the trail of major reforms program in the taxation, power, banking and corporate sector. Rupee stabilization, marked improvement in stock exchanges indices, increase in the forex reserves were some of the immediate positive results.

The government had set tough targets for itself in the Vision 2025 document and was determined to achieve them. Strict financial discipline and cut down on wasteful expenditure showed our resolve to implement the reform programme, he said.

The Minister said that there was potential in energy, power, mining, agriculture and infrastructure sectors and CDB would reap further dividends if it teamed up to develop these potentials. He mentioned that Pakistani policy regime in the power sector was very rewarding.

Zhao Xiaoyu expressed appreciation for Pakistan’s cooperation particularly in investment sector. He said that China Pakistan Economic Corridor had opened up broad new vista of opportunities. Pakistan was increasingly providing a good space to companies to establish their footprint. He said that Pakistan China Investment Company was an example of fine partnership of Pakistan and CDB.

He stressed the need to diversify and expand its operations and that we should take more advantage of it. In his remarks earlier he said that in his last visit to Pakistan early this year he saw the resolve of the government in improving the economy. He said that “he saw a Government in action”.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326
Email: piopid@gmail.com

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