Finance Minister meets development partners

Islamabad, November 26, 2015 (PPI-OT): Finance Minister Senator Mohammad Ishaq Dar here on Thursday had a meeting with a delegation of Pakistan’s development partners from Japan, Australia, EU, Norway, USAID and ADB. The meeting followed GoP (EAD) and ADB’s signing ceremony relating to establishment of Pakistan National Disaster Management Fund, program loan for Energy Sector Reform, project loans of advance metering infrastructure project and new customer information and billing system for IESCO and LESCO.

The Minister complimented contribution of ADB and other development partners for establishment of Disaster Management Fund. He said that the idea of having such a fund was put forth during the largely attended donors conferences organized last year. It was a common realization of all our development partners that there was need to have this fund in view of the recurring natural calamities.

The Minister said it was good to see the fund being launched in a short span of time. He specially appreciated the pioneer role played by ADB in this regard. He said the GoP on its part would consider contribution for the fund in future and also expected the development partners to contribute to it.

The Country Director ADB Werner Liepach on this occasion said that establishment of the Disaster Management Fund and the energy sector reforms is a matter of great pride for him personally as well as ADB. He said the Disaster Management Fund shall have three windows (a) preparedness to meet challenges posed by natural disasters (b) provision of finances and (c) reconstruction and rehabilitation.

Mr. Werner added that he now envisaged large scale improvements in the energy sector in Pakistan. Representatives/diplomats from Japan, Norway, EU and Australia also reaffirmed their support for economic projects in Pakistan.

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