Ishaq Dar says they shall issue Sukuk soon and hope it will be as much oversubscribed as Eurobond
Asian Development Bank (ADB) Country Director Werner Leipach called on the Federal Minister for Finance Ishaq Dar Saturday to discuss the details of the upcoming visit of Asian Development Bank President Takehiko Nakao at the finance ministry.
The finance minister welcomed the planned visit of President Nakao at his invitation to Pakistan and hoped that the visit would help ADB better understand Pakistan’s development priorities as well as critical issues facing the country.
He thanked Leipach for co-ordinating the visit of Nakao and stated that “It speaks volumes about the nature of our relationship which is intact and is development-oriented. We want the upcoming visit to be fruitful through discussion on projects of national importance”.
The finance minister also expressed pleasure at ADB’s interest in Islamic mode of financing and said: “We shall issue Sukuk soon and hope that it will be as much oversubscribed as Eurobond”.
The president of the Asian Development Bank is coming to Pakistan on Monday for a three day visit. He will kick off his visit by meeting the finance minister and will also call on the president and prime minister. The government’s economic team will discuss with him the over all macro-economic situation in the country and ADB’s assistance in solving the critical issues facing the economy.
In the meeting, Leipach also extended condolences on behalf of ADB president on the loss of lives and colossal damage caused by the recent floods in Pakistan and said: “We have deep felt sympathies for the people of Pakistan and, in order to make our relationship more meaningful, we would like to help the people of Pakistan because we have the experience and expertise in dealing with natural calamities like the typhoon Ulanda in Philippines and can gladly share our experience with Pakistan in the reconstruction work”.
The finance minister appreciated the concern of the ADB president and asked Leipach to convey his thanks to the ADB president.
The meeting was attended by senior officials of the ministry of finance as well as economic affairs division.
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