WASHINGTON: Finance Minister Dr Abdul Hafeez Shaikh sounded confident of new foreign investments flowing into Pakistan's energy sector as he wrapped up four days of meetings with leaders of international financial institutions, his counterparts and US officials.
"I think our message about vast business opportunities in Pakistan, the government's liberal investment regime and policy to facilitate the private sector has been received well," he told a Press Conference.
"Paricularly in the oil and gas and energy sectors, there will some new developments," he stated.
Hafeez Shaikh was asked as to what target Islamabad had set for inflow of foreign investment.
Dr Shaikh did not elaborate on his investment outlook but sources indicated that the US may announce investment in the energy sector in the near future.
The finance minister denied a statement attributed to him in the media that Parliament was hindering progress on economic reforms.
"First of all, I never said anything to that effect--- secondly Parliament is sovereign, it has the right to take decisions and nobody can challenge its decisions.
"Let me clarify once again I never uttered anything like that. It has been our effort that all decisions are taken with the approval of Parliament --- and we take along all political parties in the coalition and respect their points of view --- this is a political process by which national decisions are made."
Hafeez Shaikh said he apprised the IMF, World Bank and US officials of the measures and reforms like broadening the tax base, bringing additional sectors into tax net, revenue generation and controlling expenditure that the government is pursuing to achieve macro-economic stability.
Pakistan wants to expand its trade with its international partners as it desires to be self-sufficient.
He advised against expectations that each time an official meets with leaders of international financial institutions, he should come out with a new announcement in terms of financial commitment.
The finance minister informed the Press about his engagements which also included a series of bilateral meetings with his counterparts from China, Germany, U.K's Secretary of State for International Development, Saudi Arabia, Iran, Afghanistan with a focus on augmeting trade and economic cooperation.
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