World must ensure affordable energy for developing countries

Finance Minister Senator Ishaq Dar has underlined the need for developing countries having access to affordable energy for realization of development goals.

He was addressing the Commonwealth Finance Minister’s Meeting on the margins of annual World Bank-International Monetary Fund gatherings. The ministerial session focused on the theme of the Post-2015 Global Development Framework. The recommendations of the meeting would be taken into account as the UN prepares to finalize post-2015 development agenda.

Dar highlighted in his remarks that meeting the post-2015 development goals would require resources and developing countries must have access to finances towards that end.

“It should be realistic and access to financing should be available (to developing countries”, he said.

On the key question of access to energy, Senator Dar cited US President Barack Obama’s statement to the UN General Assembly last month, when the American leader said the world should ensure a smooth availability of energy.

“I think we have to go a step forward, energy should be affordable also in the backdrop of last few years as prices have gone haywire to ruin the economies of developing countries”, he stated.

The new UN framework will guide governments and international development partners after 2015, when the Millennium Development Goals expire.

Earlier, Finance Minister Dar met with US Undersecretary for Treasury David Cohen and discussed bilateral cooperation.

The Pakistani delegation to the annual WB-IMF meetings includes Secretary Finance Dr. Waqar Masood Khan, Governor State Bank Yaseen Anwar and Secretary Economic Affairs Division Nargis Sethi.