September 09, 2006	Saturday	Sha'aban 15, 1427

ISLAMABAD, Sept 8: Prime Minister Shaukat Aziz said on Friday that Pakistan was looking for Asian Development Bank assistance in sectors like energy, north-south corridor, social sectors, capital markets, pension systems reform, financial management systems reform, infrastructure building and human resource development.

The prime minister was talking to ADB director general Juan Miranda who called on him at the Prime Minister’s House.

An official announcement issued after the meeting said the prime minister pointed out that Pakistan attached great importance to its relationship with the ADB and would need its support in establishing the energy, transportation and trade corridors between Pakistan and central Asian states.

He said the exchange rate was steady, inflation was reducing and credit rating and balance of payment situation had improved. “There is an appreciable increase of 20 per cent in country's exports and 22 per cent in revenue collection,” he said.

The prime minister said the government had allocated a record high amount of Rs415 billion for the Public Sector Development Fund in the current year's budget in order to transfer the benefits of high economic growth to the people and improve their living standard.

Mr Juan Miranda told the prime minister that the ADB would continue to support Pakistan, particularly in energy and water sectors.

"We have given an endorsement to the fact that we are willing and able to work on the dams’ project, particularly Diamer-Bhasha Dam and will work on the transmission and distribution of electricity," he said.

Mr Miranda said the ADB had also approved a $400 million project for renewable energy, including hydel, wind, biomass and solar energy. “In addition we would be looking at the urban sectors, especially focusing on the Karachi Mega City Programme for which we plan to allocate around $100 million next year. The bank will also provide assistance to the Lahore Mass Transit System,” he said.

He assured the prime minister that the ADB would provide assistance on an annual basis.