The Finance Minister shared with AIIB chief economist Erik Berglof the economic outlook of the country and apprised the visiting dignitary of the reform agenda of the government for sustainable economic development.
By Muhammad Ali
ISLAMABAD: Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar said Tuesday the government is determined to set the economy on an even keel and put it on a path to development notwithstanding the steep challenges facing the country.
He was talking to Erik Berglof, the Chief Economist of the Asian Infrastructure and Investment Bank (AIIB), who called on the minister at the head of an AIIB delegation.
Dar welcomed Erik Berglof and shared with him the current economic outlook of the country and apprised the visiting dignitary of the economic policies and reform agenda of the government for sustainable economic development and social uplift of the poor segments of society.
He said that despite economic challenges, the government is determined to set things right and put the economy on positive trajectory. The Finance Minister also apprised the delegation about the economic losses due to the last monsoon’s cataclysmic flooding in Pakistan and rehabilitation and reconstruction in the flood affected areas.
Berglof appreciated the economic policies and reforms of the present government for social uplift of the masses. He highlighted the role of AIIB in infrastructure development projects and investment and in Pakistan discussed future cooperation in development projects especially eco-friendly and climate resilient initiatives.
Erik Berglof is in Pakistan in connection with the launch of the fourth AIIB, “Moonshots for the Emerging World: Transforming State Capacity and Mobilizing Private Sector Toward Net Zero”.
Launched Monday, the report makes a case for the acceleration and scaling up of the collective global effort needed to accelerate the net zero transition, substantiating its key findings and points through insights and data.
The report shows how, through innovative and technology adoption frameworks, public-private partnerships (PPPs) can work together with state-owned enterprises (SOEs) and financial institutions (SOFIs) to bring about moonshots – inspirational, once-in-a-generation breakthrough projects – that can decarbonise emerging world economies, giving renewed momentum to their development and growth.
Wrapping up Tuesday’s meeting, the Finance Minister expressed gratitude to Berglof and members of his delegation.
The meeting, held at Finance Division, was also attended by SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, and other senior officers from Finance Division.
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