ISLAMABAD - Pakistan on Friday proposed to establish Shanghai Cooperation Organization (SCO) Development Bank for the development of member states on the same footing of International Financial Cooperation (IFC).
While addressing the Industrial Ministerial Conference of SCO member states through a video link , Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar said that in order to propose a way forward for this platform to become big rock for enhancing industrial cooperation among the SCO member states, he would also like to propose that we should task the consortium of SCO economic analytical think tanks to launch study for finding industrial complementary in synergies among the SCO members study. He also proposed to energize SCO business council for greater integration of the business and industries of the SCO reign.
He said to find collaborative arrangement between these forums, a meeting of energy ministers should be convened for improving connectivity and provision of sound raw material base. He thanked the government of Tajikistan for proposing this new platform and expressed his optimist that this platform would truly be a major vehicle an improving social economic development in the region.