Finance Senator Mohammad Ishaq Dar held a meeting with Mr Hideaki Domichi, Vice President of Japan International Cooperation Agency (JICA) here today and thanked him for JICA's assistance for various projects in Pakistan. JICA, he opined, was promoting inclusive growth in Pakistan which was essential for economic and social uplift.
He briefed the JICA Vice President about current government's economic reform programme and stated that Pakistan expected successful completion of 6th review under IMF's Extended Fund Facitlity (EFF) by March this year. He informed that Pakistan had already spent around US$ 400 million in the ongoing operation creating pressure on the budget. Pakistan, therefore, would appreciate support for rehabilitation of IDPs as well as energy sector reform program.
Finance Minister further stated that energy sector in Pakistan provided very good returns and informed that many Japanese companies were interested in investing in Pakistan in the sector provided they are able to obtain concessionary loans. He asked Mr Domichi to encourage the Japan Bank for International Cooperation (JBIC) to provide concessionary loans to such Japanese companies. He said Pakistan would welcome investment in infrastructure projects, including in the transport sector.
Mr Domichi, on his part, stated that Pakistan and JICA shared the same vision and congratulated the Finance Minister on successful completion of five reviews under IMF's EFF facility. He stated that JICA was considering to introduce phase two of program loans. He further stated that preparatory survey on Lakhra Power Project was almost complete as it was a priority project for JICA. The project, he opined, would make significant contribution to Pakistan's energy sector. He also stated that JICA was impressed with Pakistan's economic achievements and had noted Pakistan's requests for financing further projects in infrastructure and energy sector.
The meeting was also attended by Chairman, Board of Investment, Ambassador of Pakistan in Tokyo and other senior officials.
