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ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has held a series of meetings with heads of various global financial institutions and business leaders to apprise them of the overall state of economy in Pakistan.
The finance adviser is currently in Washington DC to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank. The Pakistan delegation also includes Governor State Bank of Pakistan Dr Reza Baqir and Secretary Finance Naveed Kamran Baloch.
The briefings focused on the government’s measures to curtail twin deficits and revive various sectors of the economy through institutional reforms and collaborations with regional and international investment partners.
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The delegation held an extensive meeting with President Asian Development Bank (ADB) Mr Takehiko Nakao to exchange views on the ongoing projects sponsored by ADB in Pakistan.
Finance adviser apprised President ADB about the steps taken by the government for curtailing the current and capital account deficits effectively.
President ADB Mr Nakao said that ADB is an important financial partner of Pakistan and acknowledged the current structural reforms undertaken towards economic stabilization in Pakistan.
Shaikh also met with Mr Hartwig Schafer, Vice President South Asian Region (SAR), World Bank and his team. The meeting reviewed World Bank’s portfolio in Pakistan and exchanged views on further steps to strengthen cooperation between Pakistan and the Bank.
Later, the Pakistan delegation met with Mr Jihad Azour, Director Middle East and Central Asia Department (MCD) at the IMF.
They discussed the implementation of the ongoing IMF program. The IMF director appreciated the progress made towards economic stabilisation as well as government commitment to the reform process.
The members of the delegation also participated in the G-24 Ministers and Governors Meeting on the sidelines of the annual meetings of World Bank and IMF.
The finance adviser also attended informal meeting of the SAARC finance ministers that focused on trade facilitation within the SAARC region.
The delegation also participated in the Standard Chartered Global Investors Forum. Dr Shaikh gave an overview of the economic situation in Pakistan and progress made with the implementation of the IMF program. He urged the participants to invest in Pakistan.
