TOKYO: Finance Minister, Senator Ishaq Dar met Japanese Deputy Prime Minister Taro Aso. The leaders of both countries discussed matters of mutual interest, including cooperation in the field of economy, trade and investment and agreed to increase economic cooperation between the two countries.
Finance Minister Dar reiterated government’s resolve to root out menace of extremism from the country and briefed Aso about successes in the operation against terrorists.
He further stated that Mitsubishi had expressed interest in energy projects in Pakistan provided financing from Japan Bank for International Cooperation (JBIC) was made available.
Ishaq Dar highlighted the economic reforms undertaken by the government since June 2013 and expressed his satisfaction over the performance of the economy saying that “it had taken the right direction”.
He apprised Aso, who is also Japan’s Finance Minister, of the successful completion of five reviews by the IMF under the Extended Fund Facility Program and expressed optimism of completion of sixth review by February.
He dilated upon some of the challenges still facing the economy including shortfall in electricity generation, requirements of rehabilitation of TDPs and countering the militants.
He informed Aso that there was considerable interest in electricity generation using coal and LNG and apprised that investment in energy sector in Pakistan afforded very good returns in dollar terms.
He opined that all friendly countries should participate in energy projects in Pakistan.
Briefing Aso about some of the areas where Pakistan would welcome Japanese assistance, Finance Minister suggested that JICA may consider financing infrastructure projects, particularly in the transport sector.
JICA, he opined, should also participate in phase II of energy sector reform programme with possibly increased funding, while the Japanese government could also assist in the rehabilitation of TDPs.
He also suggested that JBIC should study in-depth Pakistan’s improved economy, particularly in view of Mitsubishi’s interest in investing in Pakistan’s energy sector.
He also invited Aso to visit Pakistan, while also expressing the desire for a possible visit to Pakistan by the Japanese Prime Minister.
