April 8, 2003	Tuesday	Safar 5, 1424

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ISLAMABAD, April 7: Prime Minister’s Adviser on Finance Shaukat Aziz on Monday said that Pakistan has decided to seek new budgetary support and further debt relief from the United States.

“We need budgetary support and new grants from the US government beside increase in the annual assistance under USAID programme,” he added.

Talking to Dawn, Mr Aziz said that he was leaving for Washington for a week long visit on Tuesday to discuss increased bilateral relations between the two countries.

“We would also be looking for new market access during our discussions with the US authorities,” he added.

Giving details, the adviser said that he would meet US Secretary of Treasury John Snow, Under Secretary of State for Economic Affairs Alan Larson and Assistance Secretary of State for South Asia Christina Rocca.

Mr Aziz said that he would also meet the heads of US Import and Export (EXIM) Bank and Overseas Private Insurance Corporation (OPIC).

“The issue of having more US investment will be raised there,” he said, adding that he was scheduled to meet the World Bank President Wolfenshon, IMF Chief Kohler and Managing Director of the International Finance Commission (IFC) Peter Woke.

Responding to a question, the finance adviser said that he would also attend the annul spring meetings of the World Bank and the IMF, and the fifth review of the Pakistan economy would be undertaken with the IMF authorities.

The review, he said, could not be completed by the IMF team last month due to the situation in the region.

However, he said that Pakistan did not have any plan to seek new IMF funding arrangement.

For all practical purposes, Mr Aziz said, that ongoing three year $1.3 billion Poverty Reduction Growth Facility (PRGF) would be the last programme in Pakistan.

The government, he pointed out, was maintaining sufficient foreign exchange reserves due to which no new loan programme would be discussed with the IMF.

But, he said, the government would continue to seek grants and concessional loans from the World Bank and the Asian Development Bank (ADB) for undertaking new development projects in all the four provinces.

Mr Aziz, who is taking fresh oath on Tuesday to become Finance Minister, said that he would also be meeting the members of the US House and Senate Appropriation Committee.

He said that he was scheduled to meet a number of Congressmen during his stay in the United States.

The adviser said that he would also be attending a meeting of United Nations Economic and Social Council (ECOSOC) at New York.