PARIS, Sept 16 (APP): Minister for Finance Senator Muhammad Ishaq Dar on Friday termed signing of multinational convention in Paris with Organization of Economic Cooperation and Development (OECD) as historical occasion adding that his visit would pave the way to strengthen the bilateral relations with France further.

Talking to media, he said that Pakistan had made and modified the tax laws to qualify for signing of multinational convention with OECD.

He added that during the visit in Paris “We have met French Auto manufacturers to invite them to invest in Pakistan.”

“The meeting with French Foreign Minister was very useful and comprehensive. He talked about regional political situation and he was apprised about concerns on human rights violations in Indian Held Kashmir,” the Finance Minister said.

“We requested them to lift travel advisory and invited the foreign minister to visit Pakistan which he in principle accepted”, Dar remarked.

“We also shared our automobile policy with French Foreign Minister”, he remarked.

The government, he said, had adopted a comprehensive energy policy to overcome loadshedding in the country.

Ishaq Dar said that Pakistan was facing shortfall of 5000 MW electricity when the government of Pakistan Muslim League (N) came into power.

He said that by November 2017 loadshedding would further be reduced.

The improved economic situation of Pakistan is generating interest of the world over as a choice destination for making investment, he said.

Minister for Finance who is currently on official visit to Paris said that Overseas Pakistanis would be welcomed to invest in Pakistan and in this connection Board of Investment (BOI) would facilitate them.

Ishaq Dar further said that International credible rating agencies were terming Pakistan as the fastest emerging economy.

Ishaq Dar further informed them that Security situation was improving in Pakistan.

It may be mentioned here that Pakistan became a signatory to the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters after signing the convention.

Finance Minister, Senator Muhammad Ishaq Dar and Secretary General of the Organization for Economic Cooperation and Development (OECD), Angel Gurria signed the convention in a dignified ceremony in Paris the other day.

The OECD invitation to Pakistan for signing the Convention was madepossible after a long process of over two years, which included reviews and amendments in Pakistani domestic income tax laws to meet the requirements of OECD.

The Convention, which has been signed by over 80
countries, would facilitate international cooperation on national tax laws and provide administrative cooperation among member countries to combat tax evasion.