Federal Minister for Finance and Revenue, Shaukat Tarin, held a virtual meeting with the Minister for Energy and Chief Executive Officer (CEO) of Qatar Energy, Saad Sherida al-Kaabi, in Islamabad today.
Besides the Finance Minister, Secretaries of Finance, Maritime Affairs and Energy, Chairman Oil and Gas Regulatory Authority (OGRA), and senior officers also participated in the meeting.
Both sides discussed modes and manners of promoting bilateral and economic ties between the two countries. The issues for setting up the Liquefied Natural Gas (LNG) terminal in Pakistan came under discussion in the meeting.
Shaukat Tarin assured the Qatar Energy Minister of all possible support to resolve the issues for facilitating the State of Qatar’s investment in Pakistan.
Meanwhile, the Federal Minister for Finance and Revenue also presided over a virtual meeting with Saudi Investment Minister Engr.Khalid Al-Falih.
Both sides highlighted deep-rooted bilateral ties and cordial relationships between the two countries. The two sides discussed the potential for increased collaboration and investment in various sectors including agriculture, food security, information technology, infrastructure development, refinery, and vowed to extend business and economic ties.
The Saudi Minister was also apprised that the present government is providing incentives to attract and facilitate foreign investors. The Saudi Investment Minister expressed the need for greater mutual investments in different fields.
Earlier, Federal Minister for Finance and Revenue Shaukat Tarin held a meeting with Director Public Management, Financial Sector and Trade Division, Asian Development Bank (ADB), Tariq H. Niazi, who was accompanied by Country Director ADB Yong Ye at the Finance Division.
The Finance Minister highlighted the long-term relationship of ADB with Pakistan and appreciated the role of the lender in extending support to Pakistan during testing times. He further gave an overview of the current economic situation and emphasized that the government is committed to introducing reforms in various sectors in the face of various challenges to address outstanding structural issues and to attain sustainable and inclusive growth.
The Finance Minister further informed that the government has taken steps to improve the revenue collection through the broadening of the tax base, capturing retail sales, single-window operations as well as track and trace system. Efforts are being made to complete the remaining prior actions under the capital markets development program to disburse it within time, he added.
Tariq H. Niazi, Public Management, Financial Sector, and Trade Division, ADB, briefed the meeting on the progress of various ongoing projects being carried out in Pakistan and also informed on future projects.
He apprised that ADB is pursuing a capital market development program, domestic resource mobilization program, social protection development program, and Public-Private Partnership Support Program. ADB is extending full technical support to Pakistan for the successful implementation of these programs.
Tariq H. Niazi appreciated and supported the efforts taken by the present government for improvement in social and economic sectors. He re-affirmed Bank’s commitment to continue support for the implementation of structural reforms in the future.
