Energy our top priority, Miftah tells US team

ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail on Friday said the present government would undertake every required step for improving energy sector, and enhancing exports and foreign investment.

He said this during a meeting with the US delegation headed by State Department’s Special Representative for Commercial and Business Affairs Dilawar Syed, a Finance Division press release said.

The US delegation comprised Regional Policy Lead for Europe and Central Asia, Development Finance Corporation (DFC) Gaia Self, and Economic Counsellor of US Embassy in Pakistan Dan Froats, and other officers. The US delegation showed their interest in investment in various sectors, including wind renewable energy, and textile and agricultural sectors.

It said the DFC was planning to revise the power purchase agreements (PPAs) of its sponsored wind power projects depending upon the support and cooperation of the Government of Pakistan.- The secretary finance and other senior officers of the Finance Division also attended the meeting.

Miftah Ismail apprised the delegation about the economic challenges and the reforms in policies that had been undertaken by the present government to tackle them. He said the reforms aimed at enhancing the gross domestic product (GDP) growth, attracting the foreign direct investment and augmenting the exports.

Govt mulling buying energy from Russia

The minister said the government was committed to provide more conducive environment for the foreign investment, and was also promoting the foreign companies especially involved in automobile and mobile assimilation for the promotion of exports.

Meanwhile, Prime Minister congratulated the Ambassador on his presentation of credentials and expressed the hope that the Ambassador would devote his efforts to deepening and enhancing bilateral ties between the US and Pakistan.

In this context, the Prime Minister highlighted the historic, longstanding ties between the two countries and underscored Pakistan’s desire to further develop this relationship on the basis of mutual respect, trust, and interest.

Recalling the depth and breadth of Pakistan-US relationship, the Prime Minister underscored that various Dialogues established between Pakistan and US have been playing a critical role in strengthening our bilateral ties in the areas of trade, investment, IT, climate change, health, and energy.

The Prime Minister emphasized that, given Pakistan’s economic and demographic potential, US companies needed to be encouraged by the Development Finance Corporation of the US to invest in Pakistan’s large market. The Prime Minister also stressed the need to have the Trade and Investment Framework Agreement Ministerial meeting take place later this year, also hold the Business Opportunities Conference this year.

Ambassador Blome thanked Pakistan for its prompt and effective assistance in facilitating evacuation from Afghanistan. In this context, the Prime Minister emphasized that the deepening of cooperation between Pakistan and the United States would promote peace and stability in Afghanistan and contribute to averting the humanitarian crisis in that country, which had been further aggravated by the recent earthquake.

While highlighting the rising wave of Islamophobia in India, the Prime Minister condemned the sacrilegious remarks by the two BJP officials about the revered personality of the Holy Prophet (PBUH) that had deeply hurt the sentiments of Muslims.