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Saturday Oct 19 2019
Web Desk

Hafeez Shaikh briefs global financial, investment partners on Pakistan's economy

Web Desk
Advisor to PM on Finance and Revenue Dr Hafeez Sheikh participating in the Standard Chartered Global Investors Forum in Washington DC

WASHINGTON: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh, who is on a visit to US, 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, accoridng to a statement issued on Saturday,

The adviser accompanied by a delegation is currently visiting Washington DC to attend the annual meetings of IMF and World Bank.

Also read: Hafeez Shaikh says bad days gone, Pakistan moving towards economic stability

According to the statement, in their meetings with business leaders the delegation apprised them of the overall state of economy in Pakistan with focus on government’s measures to curtail the twin deficits and revive various sectors of the economy through institutional reforms and collaborations with regional and international investment partners.

The Pakistan delegation which also includes President State Bank of Pakistan Dr. Reza Baqir and Secretary Finance Naveed Kamran Baloch 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 as well as planned portfolio. 

Adviser to the Prime Minister informed  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.

Adviser  Hafeez Shaikh also met with 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 Pakistani  delegation met with Mr. Jihad Azour, Director Middle East and Central Asia Department (MCD) at the International Monetary Fund. 

They discussed the implementation of the ongoing IMF program.

The IMF Director appreciated the progress made towards economic stabilization 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 IMF/WB-2019. 

Hafeez Shaikh also attended informal meeting of the SAARC Finance Ministers that focused on trade facilitation within the SAARC region. 

The Pakistani 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.