Finance Minister Ishaq Dar with U.S. Ambassador to Pakistan Donald Blome. Photo courtesy Finance Ministry
Finance Minister Ishaq Dar on Tuesday engaged with ambassadors of the U.S., China and the U.K. in a bid to curry support for Pakistan’s flood rehabilitation efforts, with statements suggesting the meetings were also aimed at helping Islamabad secure the latest tranche of its $7 billion economic bailout package with the IMF in view of persistent economic uncertainty in the country.
According to statements issued by the Information Ministry, the back-to-back meetings presided over by Dar and his economic team—Special Assistant to the P.M. on Finance Tariq Bajwa and Finance Secretary Hamed Yaqoob Shaikh—sought to assure the visiting dignitaries that Islamabad was committed to completing the IMF program while timely meeting all external debt repayments. Additionally, he apprised the ambassadors of the government’s flood rehabilitation efforts, stressing Islamabad had a “realistic” plan to deal with expenditures related to reconstruction.
In his meeting with Chinese Ambassador Nong Rong, the finance minister discussed means to further deepen existing ties in economic and financial sectors. Commending Beijing for its support to Islamabad in “hard times,” Dar highlight various measures being undertaken by the government to protect the vulnerable segments of society.
According to the Information Ministry, the Chinese ambassador appreciated the policy initiatives being taken by the government to achieve sustainable fiscal and monetary stability, adding that the Government of China stands with the people of Pakistan and is willing to provide every possible assistance.
Separately, in his meeting with British High Commissioner Christian Turner and UNDP consultant Sir Michael Barber, the finance minister highlighted the overall economic outlook of Pakistan. Dar, per the Information Ministry, shared that overall reconstruction and rehabilitation of flood-hit areas would take 5-7 fiscal years, while stressing that the incumbent government wanted to ensure economic and fiscal stability through sustainable growth.
The statement said the high commissioner had commended the practical measures being undertaken by the incumbent government and offered all possible help from the British government for the people of Pakistan in mitigating the socio-economic impacts of this year’s floods.
Finally, in his meeting with U.S. Ambassador Donald Blome, the finance minister highlighted the historic and durable bilateral relations between Islamabad and Washington in the fields of economy and trade. Noting that the incumbent government was “highly concerned” about the well-being of the public, he said several measures were being taken to ensure their prosperity.
According to a statement issued by the Information Ministry, Dar apprised the U.S. ambassador about the government’s plans to meet its national and international financial obligations. In response, Blome acknowledged the huge level of economic losses being faced by Pakistan due to this year’s floods and assured Islamabad of Washington’s support in “testing times.”
The finance minister also commended the U.S. for its support, adding that Washington had always been a great support for Pakistan during tough times. Per the statement, he shared various economic avenues in which both countries could further deepen their economic relations.