WASHINGTON: Finance Minister Dr Abdul Hafeez Shaikh has sought American private sector's investment in energy sector to overcome gruelling electicity shortages as he identified a number of opportunities existing in the key field.
Dr Shaikh, who is in Washington to attend the IMF-World Bank meetings, told members of Pakistan-US Business Council Friday afternoon that Islamabad is carrying out economic reforms and remains committed to faciliting foreign investment.
Pakistan, he said, looks forward to investment for development of massive Thar coal reserves, completion of Diamer Basha Dam and other hydro electricity projects as part of efforts to meet its expanding energy requirements, boost industrial growth and step up the process of economic development.
In the field of agriculture, he said, Pakistan seeks to increase productivity while investment in infrastructure projects would help raise the standard of living in the country.
"We expect good results from the interaction," Shaikh said after his discussions with representatives of major American companies at the US Chamber of Commerce.
The finance minister also hinted at discussions on new projects with the World Bank.
Hafeez Shaikh spoke about the Pakistani government's efforts to contain inflation, bolster revenue generation and achieve better growth prospects despite catastrophic floods last year. He was upbeat on substantial growth in exports this year, reflecting a 26 per cent increase over last year.
Pakistan's ambassador to the United States Husain Haqqani drew attention of the forum to the importance of strengthening economic and trade ties between the two countries.
Jay Collins, chairman of Pakistan-US Business Council, said economic ties are a vital aspect of the strategic relationship between two countries and praised Ambassador Haqqani's dedication to promoting economic relations.
During the visit, the finance minister is scheduled to have a meeting with World Bank and IMF leaders. The finance minister will also hold bilateral dialogue with US government on advancing economic ties and meet representatives belonging to the departments of State and Treasury, as well as USAID and White House officials.
Dr Shaikh will also meet with his counterparts from China, Saudi Arabia, Germany, Afghanistan, Iran and Britain's Minister of International Development.
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