ISLAMABAD: Planning, Development & Reform Minister Makhdoom Khusro Bakhtiar has said that the incumbent government is committed to facilitating private sector development in the country so as to achieve sustained economic growth.
“The private sector will be the engine of future growth and development paradigm,” he stated while talking to International Finance Corporation’s Economics & Private Sector Development Vice President Hans Peter Lankes in Islamabad on Wednesday.
Bakhtiar said that Pakistan values its partnership with IFC and appreciated its contribution and support for the development of the country’s private sector.
Noting that IFC could help in further enhancing private investment in Pakistan, the minister said that a strong private sector is indispensable for poverty eradication and employment generation.
The minister stated that the small and medium enterprises are identified as drivers of economic growth in Pakistan’s future growth strategy, adding that IFC may also mull to increase private investment in this sector.
Hans Peter Lankes on the occasion apprised the minister of IFC’s programme in support of Pakistan, saying that the corporation is looking into the possibility of increasing its annual investment for Pakistan in order to support the country’s economy.
The IFC vice president said that the corporation is focusing on the housing and power sectors, besides ensuring long-term financing for private sector development. He informed that IFC is one of the largest investors in Pakistan’s power sector and had made substantial commitments in this regard.
He expressed commitment that IFC will continue to contribute to the development of Pakistan.