Finance ministry says Pakistan requires $3 to $4 billion annual financing and the package `would be over and above` the Public Sector Development Programme (PSDP). - File photo.

ISLAMABAD The government is seeking a $30 billion package from the Friends of Democratic Pakistan (FoDP) group -- $21 billion as grant and credit and $9 billion in public-private partnership and foreign direct investment over 10 years.

The finance ministry said here on Wednesday that Pakistan required $3 billion to $4 billion annual financing and the package `would be over and above` the Public Sector Development Programme (PSDP).

The government intends to set up a secretariat of the group in Islamabad and separate working groups with interested countries and institutions to carry forward the process under five clusters.

A Pakistan Development Trust Fund has been proposed to be established under the auspices of the World Bank to complement the country`s development efforts in less developed and deprived areas.

According to a press release, Secretary General to the President Salman Faruqui told an experts` meeting of the group in Abu Dhabi on Wednesday that the financial package would enable the government to convert economic challenges into opportunities.

Faruqui is co-chairing the meeting hosted by the United Arab Emirates.

Experts from 19 member countries and international institutions are preparing for a ministerial meeting to be hosted by Japan on April 17.

The experts` meeting was inaugurated by the UAE Minister of State for Foreign Affairs Mohammad Anwar Gargash who said his government would strongly support Pakistan`s development needs.

He said his government would assist Pakistan`s efforts in overcoming economic and security challenges.

He said the FoDP was a long-term process for producing tangible results for Pakistan`s security and development.

He said Pakistan`s development was vital for peace and stability of the region.

Faruqui said Pakistan was grateful to the UAE government for its steadfast and tangible support to Pakistan`s development.

He said the government was committed to reducing poverty and meeting the United Nations Millennium Development Goals, but many challenges stood in the way, including the immediate security situation that threatened the underpinnings of democracy and a slowdown in economic growth.

He said the country`s leadership had supervised the preparation of strategy documents and projects under the five clusters of development, energy, institution building, security and trade and finance.

He said Pakistan saw the ministerial meeting as part of a long-term engagement and partnership.