ISLAMABAD, Pakistan: Pakistan and South Korea have signed a framework arrangement under which the Republic of Korea will provide $500 million to Pakistan for completion of different projects including hydropower, road infrastructure, information technology and health.
In this regard, a signing ceremony was held in Islamabad on Friday during which the Federal Finance Minister Ishaq Dar was also present.
On the occasion, the finance minister appreciated the role and cooperation extended by the Republic of Korea for development projects in the country.
Ishaq Dar said that the economic relations between the two countries would be further strengthened with the passage of time and Framework Arrangement will enable Pakistan to seek financing from Korean Exim Bank for development of Energy and other Infrastructure Projects in Pakistan.
The South Korean Ambassador to Pakistan Dr Song Jong-Hwan said that his country would extend all possible cooperation for economic development of Pakistan.
Meanwhile, the Minister for Planning and Development Ahsan Iqbal said while addressing a function in Narowal that the world institutions are appreciating Pakistan’s economic performance over the last two and a half years.
The minister said that the government is taking all steps to equip youth with modern education as it is imperative for development and peace in the country.
Iqbal said that the government plans to build university campuses in every district of the country in next three years.
The planning and development minister further said that the government has controlled the load shedding and by the end of 2018 it will root out the load shedding from the country.
