Pakistan delegation led by Finance Secretary Dr Waqar Masood Khan called on EVP IFC Mr Philippe Houerou

Pakistan delegation led by Finance Secretary Dr Waqar Masood Khan called on EVP IFC Mr Philippe Houerou and discussed IFC program portfolio in Pakistan. Finance Secretary briefed Mr Houérou about remarkable turnaround of Pakistan Economy. He said that the improvement in macro indicators had led to increased presence of World Bank Group in Pakistan. Dr Waqar Masood invited IFC to join other development partners like ADB and China Development Bank in setting up Pakistan Development Fund which will take infrastructure development in Pakistan to a higher trajectory.

Finance secretary informed Mr Houérou that Government of Pakistan is embarking on an ambitious project of laying of gas pipelines to transport gas from Karachi to Lahore. He said firstly an LNG line from Karachi to Lahore will be completed by end of current year. Secondly another line will be constructed with the help of Russia. Lastly another line will be constructed to transport gas from Gwadar to Nawabshah. He concluded by saying that in view of the improved investment climate IFC should set up a credit line for LNG and energy projects.

EVP IFC Mr Philippe Houerou appreciated the improvement in macro indicators and growth rates. He observed that this turnaround was a result of sound economic policies and strict financial discipline. He assured Pakistan delegation of all support from IFC in Financial and Energy Sectors. Furthermore he discussed the issuance of Rupee Bonds in Pakistan

April 15, 2016
Washington D.C