Islamabad—Finance Minister, Senator Mohammad Ishaq Dar Monday reviewed the preparations for upcoming international commitments including Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference, visits by Managing Director International Monetary Fund (IMF) Christine Lagarde and President Asian Development Bank (ADB) Takehiko Nakao. The CAREC Ministerial Conference is scheduled to be held in October 2016 in Islamabad, according to a press statement issued by Ministry of Finance here
The aim of the government is to make Pakistan a regional trade hub, contacts with the friendly neighboring countries are to be established and made stronger and in this regard the CAREC conference will play a positive role, the minister said. The minister directed that comprehensive preparations would be made for participation in the annual meetings. Earlier, Secretary Economic Affairs Division (EAD), Tariq Bajwa gave a detailed briefing to the Finance Minister on the preparations being made for the events.
Transport, energy, trade facilitation, and trade policy will be the priority areas to be discussed at the ten member CAREC forum. Six multilateral institutions including Asian Development Bank, United Nations Development Program (UNDP), International Monetary Fund (IMF), World Bank (WB), Islamic Development Bank (IDB) and European Bank for Reconstruction and Development (EBRD) are scheduled to be participating at the event. The upcoming World Bank/ IMF annual meetings that are due in early October 2016 in Washington D.C were also discussed. The meeting was attended by senior officials of the Finance Division and Economic Affairs Division.
Meanwhile Federal Minister for Finance Senator Mohammad Ishaq Dar Monday, while appreciating the efforts of the Federal Board of Revenue (FBR), called for redoubling the efforts to meet the revenue targets for the fiscal year 2016-17 The minister was chairing a meeting here to review the revenue collection targets and the preparations for sales tax refunds in cases where Refund Payment Orders (RPOs) have been issued up till June 30, 2016.