ISLAMABAD
The first meeting of the PDFL (Pakistan Development Fund Ltd) Board of Directors was held here on Tuesday, with Finance Minister Ishaq Dar presiding over the meeting as chairman of the Company.
The inaugural meeting inter alia considered appointment of the first Chief Executive Officer of the company. The Board agreed on nomination of Dr Waqar Masood, Secretary Finance as CEO of PDFL as an interim arrangement. The Board approved Rana Asad Amin, Advisor Finance Division as Director of the Company.
The Board also considered appointment of first statutory auditors to comply with the provision of Company Ordinance 1984. The PDFL is a non-banking finance company which would provide financing for long term projects that are carried out on public-private partnership basis.
Previously IPFF was established under Ministry of Finance which is now being re-activated in the form of PDFL. Like the previous facility, PDFL would endeavour to raise capital from capital markets to augment private sector financing.
Justice Mohammad Reza, Secretary Law & Justice, Secretary Planning and Development, Hasan Nawaz Tarar, Secretary Finance, Dr Waqar Masood, Advisor Finance Division, Rana Asad Amin, Additional Secretary (IF) Abdul Akbar Sharifzada, Additional Secretary (EF), Shahid Mehmood and other senior officials, attended the meeting.