President, Islamic Development Bank (IDB), Dr Ahmad Mohamed Ali Al Madani, on Sunday called on Finance Minister Ishaq Dar at Finance Ministry and discussed ways and means to further enhance co-operation between IDB and Pakistan.
The Finance Minister informed the President of IDB that the economic policies pursued during the last one year by the Government have started producing positive impact on the overall economy of the country. He said that with the successful launch of Eurobond in the international market, auction of 3 G/ 4 G Spectrum, WB support to Pakistan for IDA 16 including Dasu hydro power project, ADB assistance for Jamshoro power project and successful divestment of UBL shares, the confidence of international investors in Pakistan is overwhelming. He further informed that Pakistan has credible reserves of oil and natural gas but unfortunately due to lack of proper planning and vision, the country remained under explored where only 44 percent area is explored whereas the success rate is much higher as compared to other regions.
President IDB appreciated Pakistan's plans for the development projects initiated by the present government. He informed that the International Ulema Conference is a great initiative and he was happy with the attendance in the Conference. He said that their hearts beat with Pakistan and they will play their due role in polio eradication from the country with the help of the government and the religious community. He emphasised that IDB is ready to play its role to help Pakistan in enhancing its relations with the Islamic world and the African countries. He informed that IDB will support co-operation among the Islamic Ummah. He also mentioned that IDB will help promote trade relations among the Islamic countries and Pakistan will be assisted in enhancing its exports to the Islamic countries.