ISLAMABABD -  Pakistan has made an impressive headway in financial and digital inclusion, Finance Minister Ishaq Dar said at the press briefing with Pakistani media towards the end of his current visit to Washington DC for attending spring meetings of the IMF and World Bank.

During five-day visit in Washington DC, Finance Minister Ishaq Dar attended the mandatory meetings of IMF and WB along with more than two dozen meetings on sidelines with officials of the State Department, Think-tanks and members of the Pakistani diaspora.

The finance minister gave a detailed round-up on the plenary sessions with the IMF and World Bank during the press briefing.

He said there was a positive sentiment about the tremendous economic rebound, experienced by Pakistan over the last four years.

"Pakistan was at the verge of bankruptcy in 2014 and today Pakistan is likely to achieve approximately 5 percent growth rate during the current financial year," he said. "Both IMF and WB are on the same page with the Pakistan government in these projections," he added.

The global credit rating agencies have upgraded the rating of Pakistan from `negative` to `stable` and from stable to `positive` over the last four years to an extent that the country is likely to be included in G-20 countries by 2030, he expressed the optimism.

Senator Ishaq Dar said Pakistan has successfully completed the IMF programme first time ever and was now considered as a case study of economic turnaround due to prudent fiscal and monetary policies and macrostructural reforms.

During the course of discussion, the minister outlined the important financial initiatives to be undertaken by the government in near future.

He said Pakistan Infrastructure Bank would be established with a paid up capital of one billion dollars. It would finance private investors in development projects, he added.

He said both IMF and Pakistan government would have 20 percent shares each and the rest would be met by international organizations such as IFC.

Dar further said that government would soon be launching Pakistan Development Funds. The shares worth Rs 100 billion of the Pakistan Development Fund would be offered to Pakistani diaspora in order to channelise their valuable remittances effectively, he added.

Later on, the shares of the Pakistan Development Fund would be enlisted on Pakistan Stock Exchange. After success of Sukok Bonds, Pakistan Development Fund would be another attractive investment for overseas Pakistanis, he remarked.

He also mentioned that the government has entered into consultation with the World Bank to introduce solar energy as a new electricity generation alternative at a lowest cost in Pakistan.

In response to a question relating to the verdict in Panama Papers case, Dar said PML-N government had honoured the decision of the apex court and would welcome the formation of JIT within next 07 days in line with the judgement.

Towards the end of the briefing, Dar emphasised that Pakistan had now emerged as a lucrative investment option for international investors and urged US multinational giants to consider Pakistan for establishing labour-intensive facilities in the South Asian region.

The minister in his keynote address to the third session of `Pakistan Embassy Forum`, titled `Economic Reforms and Revival in Pakistan` also underlined the need of early resolution of the Kashmir issue which is vital to the regional peace.

The session was well attended by participants from think tanks, officials of Washington-based organisations and notables of Pakistani American diaspora.

Dar said that efforts for improved regional connectivity and investment hold promise to Pakistan's economic development, still, there is a need to accelerate country's pace of growth to be able to harness the challenges which pose serious threat to the overall economy.

The minister said that Pakistan is looking ahead to work closely with the Trump Administration to further enhance and strengthen bilateral relations between the two countries. Pakistani diaspora is playing an important role in acting as a bridge between Pakistan and the US to further bilateral relations, Dar added.

Dar said that reforms under the present government including structural reforms and fiscal policies have boosted the overall economic growth. He said that for the very first time, Pakistan has successfully completed the IMF's Extended Fund Facility Programme which is a complete break from the past. Over the past few years, Pakistan has significantly improved on economy, energy, extremism and education, he added.

While responding to a question, he said China Pakistan Economic Corridor (CPEC) offers Pakistan an excellent opportunity to upgrade the basic infrastructure of all provinces and will bring prosperity and connectivity to the country. The project will bring in lots of investments into infrastructure and energy sectors, he added.

Earlier in his opening remarks, Ambassador Aizaz Ahmad Chaudhry dilated upon the importance of the event. He stated that Pakistan of today is a resurgent country going through a momentous transformation on both security and economic fronts.

Expressing his strong hope with the present government's vision and commitment, he added, Pakistan is on track to record high economic growth and sustainable progress in various socio-economic sectors.