Govt to meet all requirements of IDPs, says Ishaq Dar

ISLAMABAD: In order to avoid donors’ fatigue, Pakistan will not make any formal request to multilateral or bilateral donors for seeking financial assistance to help over half a million Internally Displaced Persons (IDPs) in the wake of ongoing military operation in North Waziristan Agency (NWA).

Instead of seeking donors’ assistance, the government has decided to meet all requirements of IDPs through its own domestic resources.“Without seeking formal request to the donors, assistance of the multilateral and bilateral creditors and friends will be welcomed,” added the sources.

Pakistan’s military has launched operation against Taliban and their supporters to flush them out from NWA region that caused displacement of over half a million IDPs in Bannu area.“The government has taken the decision in principle that it will meet all requirements of IDPs from its own resources and formal request to donors’ assistance will not be sought. We have so far provided over Rs 2 billion and will also meet upcoming requirements.

The government has deducted one day salary of all public sector employees getting salary from federal budget that generated more than Rs 350 million,” official sources confirmed to The News here on Monday.

When contacted to Federal Minister for Finance and Revenues, Ishaq Dar confirmed to The News on Monday that the government was meeting all requirements would continue it for all IDPs in future as well.

However, high-ups in Finance Ministry told this scribe that the government so far released over Rs 2 billion for IDPs and more resources would be earmarked to meet their requirements.“We have also met financial requirements of Armed Forces to conduct this operation and will also meet the financial requirements for IDPs,” said the official.

So far 572,529 people, belonging to 44,633 families have been registered as Internally Displaced Persons (IDPs) as a result of Operation Zarb-e-Azb, which started on June 15th. The UAE Government has released an assistance of $ 20.5 million for the IDPs on humanitarian grounds, while US has extended an assistance of $ 31 million. Finance Ministry has released Rs. 2 billion so far for providing relief to the IDPs. Economic Coordination Committee of the Cabinet has approved 60,000 tons of wheat costing Rs. 2.8 billion for distribution among the IDPs.

When inquired why the government was not making formal request through flash appeal of UN for IDPs assistance, the sources said that the government knew about donors’ fatigue keeping in view experience obtained by Islamabad as result of floods in 2010 and 2011.“This decision has been taken at the top level to avoid seeking official help from the donors but if someone comes forward they will be welcomed,” concluded the sources.

Ishaq Dar stresses Pakistani Mission abroad to bring foreign investment

ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar Monday emphasized upon the Pakistani Missions abroad to draw attention of the investors to Pakistan where huge potential is available for foreign investment.

This he said while speaking with Pakistan's Ambassador designate to Qatar, Shehzad Ahmad who called on him here.

The Finance Minister said that there is huge potential of foreign investment in Pakistan particularly in economy, energy and infrastructure sectors.

"We have introduced a very robust economic revival programme which includes public private partnership on the basis of Build-Operate-Transfer (BOT) model", he added.

The Minister said that the new initiatives will be instrumental for economic rebuilding. Important initiatives include deregulation, undertaking structural reforms to improve management of public finances and making Pakistan an attractive investment destination.

He said that Qatar has expertise in energy sector and the Ambassador should encourage the potential investors from Qatar on opportunities available in the Country.

The Ambassador designate briefed the Minister on his plans to represent Pakistan effectively in Qatar. The Ambassador assured the Finance Minister that he will work hard to enhance existing cooperation between the two countries.

He also thanked the Finance Minister for his Ministry's commitment and support to provide assistance in attracting foreign investment in the Country.

Pakistan supports peaceful, stable Afghanistan: Ishaq Dar

ISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar said Monday that Pakistan supports a peaceful and stable Afghanistan for the economic development and well being of people of the two countries.
Speaking to Ambassador Beth Jones, Principal Deputy Special Representative for Afghanistan and Pakistan, US Department of State who called on him here, the Finance Minister underscored the importance of a trusting and mutually beneficial relationship saying that the relationship has improved considerably in recent months.
He also expressed the hope that the cooperation in economic and energy sectors will be increased further.
Ishaq Dar informed the Ambassador of Pakistan's contribution in different development projects undertaken in Afghanistan and hoped that these will contribute to socio-economic well being of the people of Afghanistan.
The Finance Minister also briefed the Ambassador on key economic reforms the present government has embarked upon and said that major economic indicators have already started reflecting marked improvements.
The Minister said that when the Pakistan Muslim League-Nawaz came into power the country as confronted with bigger challenges than in the past.
But the leadership, without wasting any time charted out an economic agenda to deal with these issues.
The Minister said that we have paid Rs.500 billion of circular debt and have added 1700 MW of power into the system. He said that the industrial sector has reacted very positively to the reforms and its performance is way ahead of our expectations.
He added that the government has a very clear roadmap to increase the growth rate to a satisfactory level.
Ambassador Beth Jones briefed the Minister on her meetings with other officials and appreciated the economic performance of Pakistan.
She expressed her satisfaction at the close coordination between the two countries during the recently held strategic dialogue in Washington DC.
She hoped that with the prudent policies of the government, the country will come out of the economic problems.
Ambassador Jones also expressed her sympathies for the loss of precious human lives in today's terrorist attack at the District Court Complex Islamabad.