ISLAMABAD: Minister for Finance and Economic Affairs Senator Ishaq Dar on Monday said that IMF tranche, Sukuk selling and OGDCL transaction will boost country’s foreign exchange reserves.
“We are expecting two tranche from IMF in December and hoping to complete the Oil and Gas Development Company Limited (OGDCL) transaction and sale of Sukuk bond very soon which would improve our reserves situation and the Balance of Payments,” he said.
He was talking to British High Commissioner, Philip Barton and Head of the Department for International Development (DFID), Richard Montgomery who called on the minister here. The minister said, although the sit-ins negatively impacted many of our transactions which were of vital importance for Pakistan, we have taken up our work on revamping of the economy with even greater zeal.
During the meeting, the finance minister exchanged views with the visiting dignitaries on efforts of the present government to deal with the issues of poverty alleviation, rehabilitation of the Internally Displace Persons (IDPs) and relief work for the flood affectees. He said that he was deliberating upon establishing two separate funds for the rehabilitation of IDPs and flood affectees with the contribution and active support of different countries and international organizations.
He told Barton about his recent visit to USA, saying that he had a number of high level meetings and also attended the all important Diamer-Bhasha Conference and expressed the hope that the project would receive positive response from different funding institutions. He said that the Income support program was close to his heart and he would ensure that it is managed and run in a fair and transparent manner.
Dar remarked that Pakistan was also desirous of extending its economic ties with the neighboring countries and hoped the new government in Afghanistan would be friendly to work with. On the occasion, Richard Montgomery said that UK was expecting Pakistan, as well as the rest of the world, to work on the projects of regional co-operation specially CASA 1000 Project. The project on the basis of its potential would receive financial support internationally, he added.
Montgomery said that they would continue to support the income support program in the future as well but also want its outreach to expand from the current 4.5 million people to 4.8 million people. Among others, the meeting was attended by Rana Assad Amin, Advisor Finance Division and Shahid Mahmood, Additional Secretary, Finance Division.
