Pakistan Infrastructure Bank to be established with 60pc stake of IMF

Pakistan Infrastructure Bank to be established with 60pc stake of IMF

WASHINGTON: Finance Minister Muhammad Ishaq Dar says maximum relief will be given to salaried class and common man in the next budget and no drastic taxes are under consideration.

Addressing a news conference in Washington, he expressed the hope that GDP growth over five percent will be achieved during the current fiscal year. Finance Minister Ishaq Dar said Pakistan is making an impressive headway in financial & digital inclusion.

The Finance Minister also expressed the confidence that seven percent GDP growth will be achieved in the next year.

Ishaq Dar Minister said Pakistan Infrastructure Bank will be established with a sixty percent stake of IMF while Asian Development Bank has also expressed willingness to be part of this initiative.

He said the bank will finance private sector for development projects.

Meanwhile, during a meeting with Director MCD IMF Jihad Azour and his team in Washington, Finance Minister briefed them about the economic reforms undertaken by the government.

He said the government is planning to channel private sector investment to infrastructure projects of Pakistan.

Director MCD IMF Jihad Azour observed that adhering to reforms process will protect Pakistan’s economy from shocks and help the government in achieving higher, sustainable and inclusive growth rate.

Earlier, talking to US Acting Deputy Secretary of State Tom Shannon in Washington, Ishaq Dar said the government is conducting security operations with the unwavering belief that ridding the society of terrorists and extremists is in Pakistan’s national interest.

Tom Shannon conveyed to the Finance Minister the Trump Administration’s commitment to engage Pakistan for a broad based bilateral relationship and to partner with Pakistan to achieve regional peace and security in South Asia.

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