May 07, 2008	Wednesday	Jamadi-ul-Awwal 1, 1429

ISLAMABAD, May 6: Minister for Finance Ishaq Dar has called on Asian Development Bank (ADB) President Haruhiko Kuroda in Madrid on the sidelines of the 41st Annual Meeting of ADB Board of Governors.

According to a message received here on Tuesday, the finance minister, who is also the governor for Pakistan on the ADB Board of Governors, apprised the ADB president about the economic road map of Pakistan for macroeconomic stability to improve financial deficit.

Mr Kuroda appreciated all the actions taken by the Pakistan government and assured that the bank would continue supporting the country for its development agenda.

Mr Dar took up the resolution of issues surrounding the ongoing capital market operations project, which had slowed down in the past. The matter was resolved and the project would soon be back on course.

The minister invited the ADB chief to visit Pakistan and thanked him for extending support of $200 million, already released to the government of Pakistan. The amount will be followed by another $450 million disbursement by the end of June this year.

The Finance Minister also met his Chinese counterpart Mr Xie Xuren.

Mr Dar invited Mr Xuren to visit Pakistan for the Joint Economic Commission. The Chinese finance minister accepted the invitation.

The possibility of financing water reservoirs/hydel projects, especially Bhasha Dam, came under discussion. Mr Xuren reiterated his government’s resolve to continue support for the Pakistan government in its development efforts.

State Bank of Pakistan Governor Dr Shamshad Akhtar accompanied Mr Dar during the meetings.—APP