WASHINGTON, Oct 5: Pakistan has informed the World Bank and the International Monetary Fund that it is now more interested in acquiring their expertise for strengthening its economy than in seeking new funds, Finance Minister Shaukat Aziz told Dawn on Saturday.

The message was conveyed during the current visit of Prime Minister Mir Zafarullah Khan Jamali, who had a meeting with senior World Bank officials, including its President James Wolfensohn, during his four-day stay in Washington.

“We told the eight-member World Bank team that our debt burden has decreased to $36 billion from $38.5 billion. Our revenue target is expected to reach up to Rs84 billion. So we now need your expertise in economic and financial planning, more than we need your funds,” said Mr Aziz.

He said the Pakistani delegation’s meetings with the United States treasury department and USAID officials were also very “productive and useful and they expressed support to and satisfaction with the economic progress we have made.”

Mr Aziz said Pakistan had informed the IMF that it was floating Euro bonds in a few weeks and a detailed announcement would be made later.

He said that in the discussions with the treasury officials, the Pakistani delegation expressed the desire for giving a large role to Pakistani companies in Afghanistan’s reconstruction.

“We also reiterated our financial and moral support to Afghanistan in its efforts to resurrect its social and economic structure,” he said.

He said a branch of the National Bank would soon be opened in Afghanistan to help facilitate bilateral ties.

“Economic ties between the two countries are growing rapidly. The bilateral trade has doubled to $400 million from $200 million,” he said.

The minister said Pakistan also had demanded a role in the reconstruction of Iraq and offered to training facilities and manpower for the efforts.