1NNI
ISLAMABAD
Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here on Monday to review the financial requirements of upcoming gas based power plants.
Yonus Dagha, Secretary Water and Power and MD PPIB gave a presentation to the participants of the meeting, putting forth timelines for completion of different formalities in regard to the proposed projects.
The meeting was briefed regarding the total gas requirement for the up-coming plants. The Ministry of Petroleum & Natural Resources informed that sufficient gas supply for these plants will be ensured.
The Finance Minister directed Ministries of Water & Power and Petroleum &Natural Resources to keep close coordination for achieving speedy progress on the proposed power plants.
He also said that transparency and efficiency should be ensured while undertaking these projects. He also gave instructions to convene regular meetings for seeking update on progress of work. Minister of Petroleum and Natural Resources Mr.Shahid Khaqan Abbasi and Senior officials of the Ministries of Finance, Water and Power, Petroleum and Natural Resources and other related departments attended the meeting.
Meanwhile, a delegation of the International Finance Corporation led by Mouayed Makhlouf, Regional Director (Middle East and North Africa) called on the Finance Minister, Senator Mohammad Ishaq Dar here on Monday. The delegation apprised the Finance Minister of their planned 506 million dollar investment in Pakistan in various areas.
Mouayed Makhlouf on this occasion said that IFC is supporting development in Pakistan by providing equity investment and loan portfolios for development of infrastructure and industrial projects.
The delegation also discussed with the Minister some tax related issues concerning the IFC. The Minister referred the matter to FBR and asked the officials concerned to address the issues on priority.
The Minister welcomed IFC’s investment programme and highly appreciated the contribution of the IFC in industrial and infrastructure projects and technical assistance.
Senior officials of the Ministry of Finance attended the meeting.
