PM seeks WB assistance for construction of dams


Prime Minister Nawaz Sharif sought World Bank’s financial assistance for construction of dams, which would help meet energy shortfall of the country.

World Bank President Jim Yong Kim called on Prime Minister Nawaz Sharif on the sidelines of the 70th UNGA Session in New York on Sunday.

The prime minister thanked the World Bank for providing financial support and technical assistance to Pakistan over the years, particularly in infrastructure development, energy, water and social sectors.

The World Bank president expressed appreciation for Pakistan’s improved economic situation due to effective fiscal policies of the present government. He said that Pakistan’s impressive growth trajectory was being noted by everyone.

The prime minister was assisted in the meeting by Adviser to the Prime Minister on National Security and Foreign Affairs Sartaj Aziz, Finance Minister Senator Muhammad Ishaq Dar, Special Assistant to the Prime Minister on Foreign Affairs Tariq Fatemi and other senior officials.

Meanwhile, Prime Minister Nawaz Sharif met Korean President Park Geun-hye and President of Senegal Macky Sall on the sidelines of the 70th UNGA Session in New York on Sunday.

During meeting with the Korean president, the two leaders expressed satisfaction at the positive trajectory of bilateral relations. Pakistan proposed to establish a mechanism for strategic dialogue at the foreign ministers level.

On trade and investment, the prime minister lauded the role of Korean investors in Pakistan and invited more Korean companies to invest in Pakistan in special economic zones, especially in the energy sector. Current bilateral trade volume is around $1.17 billion. To boost bilateral trade, a Free Trade Agreement (FTA) is being explored. A pre-feasibility on the Pak-Korea FTA has already been commissioned and is expected to be completed by July 2016.

The President of Senegal hailed Pakistan as one of the most important Muslim countries with a prominent role in OIC and the Muslim Ummah. President Sall praised Pakistan’s contribution to counter-terrorism and expressed his country’s interest in defence cooperation, including procurement of defence equipment from Pakistan. He also sought to benefit from Pakistan’s expertise in agriculture, scientific research and science and technology.

Both leaders agreed to explore ways to enhance bilateral trade volume from its current level of $37 million. They agreed that early convening of the inaugural session of Joint Ministerial Commission would prove useful in this regard.

The prime minister also invited companies from Senegal to invest in Pakistan to take advantage of its liberal investment regime.