KARACHI, April 9: The Secretariat of South Asian Development Fund (SADF) is shifting to Pakistan for two years on conclusion of two-day eighth meeting which began here on Friday.

President of the National Bank of Pakistan S Ali Reza will be the chairman of the SADF as its secretariat will be located in the NBP.

The inaugural session of the two-day SADF session was chaired by Bal Krishna Man Singh, the chief executive officer of Nepal Industries Development Corporation. The main items on the agenda are the charter and by-laws of SADF, the position of three hydro power projects in Nepal and some new projects.

According to a press release NBP President Syed Ali Reza gave the welcome address while Tawfiq A Husain, Deputy Governor of the State Bank of Pakistan in his speech extended all support for SADF.