ISLAMABAD: British High Commissioner to Pakistan, Philip Barton, called on Federal Minister for Finance Mohammad Ishaq Dar Wednesday and congratulated him on the impressive success of the Pakistan's Euro Bond in the international market.
It reflected the confidence of the international investors, which was growing each day in favour of Pakistan because of the prudent economic policies of present government, said the High Commissioner.
The Finance Minister said the response of international investors was overwhelming and the subscription was 14 times higher than the amount originally intended.
He mentioned that with the launch of the Euro Bond, Pakistan had returned to the international bond market after seven years and this would also save Rs 90 million every year, if the amount had been borrowed from the domestic capital market.
The Finance Minister discussed with the British High Commissioner and Richard Montgomery, Country Head of Department for International Development (DFID) of UK, the details of its initiative "Enterprise and Asset Growth (EAGR)" for Pakistan.
The programme will provide financing facilities to the small and medium enterprises.
The DFID has committed to provide 76 million British Pound as seed money, which could increase up to 200 million British Pounds in due course. This initiative will create job opportunities to around 400,000 people during the course of this project.
The British High Commissioner also briefed the Finance Minister on forthcoming visit of Prime Minister Nawaz Sharif to the United Kingdom and the agenda of the Investment Conference to be held in London on April 30.
The Finance Minister said the forthcoming visit of the Prime Minister to UK would provide an opportunity to the leadership of the two countries to discuss important issues to further enhance the existing relations.
The meeting was also attended by Ms. Nargis Sethi, Secretary EAD, Rana Assad Amin, Advisor to Finance Division and other senior officials of the Finance Ministry.
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