US Ambassador to Pakistan Richard G. Oslan and Senior Adviser to US Special Representative for Afghanistan and Pakistan Robin Raphel called on Federal Minister for Finance Dr Abdul Hafeez Shaikh on Thursday.
Oslon and Raphel congratulated the finance minister over his successful visit to United States and expressed satisfaction over the pace of institutionalising economic reforms in Pakistan.
Dr Abdul Hafeez Shaikh informed the US delegation that the economic indicators of the country were on a positive course despite energy scarcity and a deteriorating security situation. Dr Hafeez informed the US delegation that Pakistan boasts the lowest inflation rate in the region and told that the trade balance deficit of Pakistan was declining. The US assured the finance minister that Coalition Support Fund amounting to $ 600 million would be released soon. The delegation added that the US would sanction an 80 million dollar Pakistan Investment Fund for SMEs in January 2013. The US delegation assured the finance minister that active participation of Overseas Private Investment Corporation (OPIC) in development of Pakistan would be ensured. The active participation of OPIC has a potential to increase the monetary support for projects in Pakistan from $ 100 million to $ 1 billion. The visiting US delegation also reaffirmed US commitment for provision of $ 200 million for Diamer Bhasha Dam. Bilateral PAk-US trade was also on the agenda of the meeting and Olson assured Dr Hafeez of facilitating trade between the two allies. Richard Olson said that US would extend optimum cooperation towards development projects in Pakistan apart from the grants already pledged for overcoming the energy crisis and for development of social sector and infrastructure.
