Washington: Finance Minister Dr Abdul Hafeez Shaikh has urged the American private sector to invest in energy sector of Pakistan to help the front line ally of US in the so called war on terror overcome grueling electricity shortages.
Hafeez, who is currently in Washington to attend the IMF-World Bank meetings, told members of Pakistan-U.S. Business Council that Islamabad is carrying out economic reforms and remains committed to faciliting foreign investment.
Pakistan, he said, looks forward to investment for development of massive Thar coal reserves, completion of Diamer Basha Dam and other hydro-electricity projects as part of efforts to meet its expanding energy requirements, boost industrial growth and step up the process of economic development.
In the field of agriculture, he said, Pakistan seeks to increase productivity while investment in infrastructure projects would help raise the standard of living in the country.
“We expect good results from the interaction,” Shaikh said after his discussions with representatives of major American companies at the U.S. Chamber of Commerce.
The finance minister also hinted at discussions on new projects with the World Bank.
Pakistan’s ambassador to the United States Husain Haqqani drew attention of the forum to the importance of strengthening economic and trade ties between the two countries.
Jay Collins, chairman of Pakistan-US Business Council, said economic ties are a vital aspect of the strategic relationship between two countries and praised Ambassador Haqqani’s dedication to promoting economic relations.
During the visit, the finance minister is scheduled to have a meeting with World Bank and IMF leaders. The finance minister will also hold bilateral dialogue with U.S. government on advancing economic ties and meet representatives belonging to the departments of State and Treasury,as well as USAID and White House officials.
Dr Shaikh will also meet with his counterparts from China, Saudi Arabia, Germany,Afghanistan, Iran and Britain’s Minister of International Development.
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