Summary Says US has assured him that $322 million under Coalition Support Fund would be reimbursed soon.
ISLAMABAD (Online) - Federal Minister for Finance Ishaq Dar has said that US officials assured him that $322 million under Coalition Support Fund would be reimbursed to Pakistan shortly.
He was speaking to the media representatives at the conclusion of his visit to Washington. Dar said he had a string of useful meetings with American officials including USAID Administrator and senior US Trade officials.
He said on budget spending for Pakistan from the U.S. assistance is likely to be increased to 35 to 40 percent from current 20 percent.
With the US Undersecretary of Treasury, David Cohen, Dar said, his discussions addressed anti-money laundering efforts. Pakistan, he said, has promulgated an Ordinance amendment to bring the law in line with international requirement. Not doing so, he added, would have affected Pakistani banking sector rating.
The finance minister said he discussed with the U.S. officials alternate to the now shelved reconstruction opportunity zones program as part of efforts to secure greater trade access for Pakistani products and found the U.S. officials positive in this regard.
During meetings with the World Bank and IMF chiefs, Dar said there was a “sea change” in their dealings with Pakistan as the international finance institutions expressed appreciation for Pakistan’s recent reforms and steps to put the economy back on track.
The World Bank, he said, has committed $ 700 million to Dasu hydro power project, and also aged one billion for International Development Assistance 16.
The Overseas Private Investment Corporation has said it would increase the investment in Pakistan to $1.5 billion.
“I found much greater international confidence in Pakistan’s economic policies and reforms, and am confident that with more investments, we will be able to fuel the national economy, achieve higher GDP growth and fast-track the economic development,” he said.
With regard to Prime Minister Nawaz Sharif’s talks with President Barack Obama on October 23, Dar said the Pakistani leader would advocate trade as the best way to strengthen bilateral relations and call for expansion in trade and investment relations.
The prime minister will also interact with American business leaders, Dar added.
