Dar discusses programme portfolio with CEO of IFS

ISLAMABAD, Oct 23 (APP): Executive Vice President and CEO of
International Finance Corporation Jin Yong Cai, along with his team,
called on Finance Minister Senator Mohammad 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.