Dar arrives in Yokohama to attend ADB’s annual meeting

ISLAMABAD, Sep 2 (APP): Finance Minister Senator Mohammad Ishaq Dar received a phone call from US Deputy Secretary of Treasury (equivalent to Deputy Finance Minister) Sarah Bloom Raskin here on Friday.

Secretary Raskin thanked Finance Minister for Pakistan’s support for re election of Dr Jim Yong Kim as President of the World Bank Group for another five year term.

Minister Dar informed her that the World Bank and Dr Kim had been partners of Pakistan in key infrastructure projects.
He added that Dr Kim had an impressive performance for global economic revival, development and poverty alleviation and therefore, Pakistan was the first country to propose his re election.

Secretary Raskin also congratulated Finance Minister on Pakistan’s completion of International Monetary Fund (IMF) 3 year Extended Fund Facility Program.

Ishaq Dar thanked Secretary Raskin for her support and encouragement during the IMF program.

Finance Minister also informed Secretary Raskin that the Organization for Economic Cooperation and Development (OECD) had declared Pakistan compliant with its systems and had invited Pakistan to sign its Multilateral Convention on Administrative Assistance in tax matters.

He added that he would be signing the convention in the presence of Secretary General OECD in Paris on 14 September 14, 2016.

This signing, he added, had been duly authorized and approved by the Federal Cabinet.

Secretary Raskin congratulated the Finance Minister on this achievement saying “it was wonderful news” and complimented this “great breakthrough” which, she said, would greatly benefit Pakistan.

Both ministers also agreed to hold a bilateral meeting on the sidelines of the upcoming annual meetings of the World Bank and IMF in Washington in October 2016.

Finance Minister also renewed his invitation to Secretary Raskin to undertake a visit to Pakistan and informed her that IMF Managing Director Christine Lagarde and President Asian Development Bank Mr Nakao were scheduled to visit Pakistan in October 2016.