ISLAMABAD, Pakistan: Executive Vice President and CEO of International Finance Corporation Jin Yong Cai, along with his team, called on Finance Minister Senator Muhammad Ishaq Dar in Washington DC and discussed IFC’s programme portfolio in Pakistan.
Mr Cai informed Finance Minister that during last 2 years, IFC has more than doubled its investments from $400 million to around $1billion, according to statement issued here on Friday.
He congratulated Finance Minister on the successful issuance of Euro Bonds and observed that currently capital is flying out of Emerging Market economies and despite the turbulence in capital markets, the issuance of Euro Bonds reflects investors’ confidence in Pakistan economy.
Mr Cai expressed interest in the divestment of shares in state owned enterprises and stated that IFC has participated in the recent divestment of shares of Habib Bank Limited.
He said IFC is keenly looking at the agricultural sector in Pakistan and observed that investment in smaller units in agricultural sector can increase their productivity and boost country’s exports.
EVP IFC observed that Chinese investment in infrastructure can lead to growth in all sectors of economy.
Finance Minister Ishaq Dar thanked EVP IFC for his personal interest in bringing investment in Pakistan.
He briefed him about the latest macroeconomic indicators of Pakistan and shared the government’s plan for the inclusive growth and job creation.
The Finance Minister invited EVP IFC to participate in the hydro based energy generation projects in Pakistan and expressed hope that IFC will provide financing to prospective investors for investing in Pakistan.
Finance Minister was accompanied by Nasir Khosa, Executive Director World Bank, and Mohsin Chandna, Economic Minister Pakistan Embassy.
Source: APP
