Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar has said that the incumbent Government is committed to facilitate private sector development in the country for achieving sustained economic growth adding that private sector will be the engine of future growth and development paradigm.
The Minister was talking to International Finance Corporation Vice President Economics & Private Sector Development Mr. Hans Peter Lankes who called on him in Islamabad on Wednesday. Members Planning Commission and senior officials of the ministry were also present in the meeting. The Minister said that Pakistan values its partnership with IFC and appreciated its contribution and support for development of private sector in the country.
Noting that IFC could help in further enhancing private investment in Pakistan, the Minister said that a strong private sector is indispensable to ending poverty, employment generation and boosting shared prosperity across Pakistan. The Minister stated that SME’s are identified as driver of economic growth in our future growth strategy adding that IFC may look into increasing private investment in this sector.
IFC Vice President apprised of IFC’s program in support of Pakistan and said the Corporation is looking into the possibility of increasing annual investment for Pakistan to support the country’s economy. He said that focus is being given to housing, energy & power sectors as well as support financial inclusion and long term finance for development of private sector.
He informed that IFC is one of the largest investors in Pakistan’s power sector and had made substantial commitments in this regard. He expressed commitment that IFC will continue to contribute to the development of Pakistan.