Pakistan expects WB assistance for Dassu Project: Dar

ISLAMABAD: Finance Minister, Mohammad Ishaq Dar on Monday said that Pakistan is expecting World Bank to consider Dassu Hydro Project and would appreciate US support for this project which is very important for energy sector.

In a meeting with a US delegation led by Marisa Lago, Assistant Secretary, International Markets and Development on the occasion of 47th annual meeting of Board of Governors of Asian Development Bank, Ishaq Dar said that Pakistan is going ahead with Diamer Bhasha Dam Project also which would serve the dual purpose of generating electricity and would act as a water reservoir for both agriculture and flood controls.

The Finance Minister briefed the US delegation about the structural reforms and stabilization measures undertaken by the present government since its coming into power in June 2013.

The Finance Minister informed the delegation that through prudent macro-economic management, austerity measures, resorting to external sources of funding and retiring domestic debt obligations, the Government has been successful in putting the economy on the stable growth trajectory.

He said that these measures have resulted in restoring the investor’s confidence in Pakistan economy which has also helped in over-subscription of Eurobonds.

Ms. Marisa complimented the Finance Minister on overall economic performance which is helping in stabilizing the Pakistani rupee, building foreign exchange reserves which may help in attracting foreign direct investment.

Finance Minister also appreciated and acknowledged the US assistance in the important sectors of Pakistan.