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Dar lauds ICD’s support for private sector, privatization process

June 27, 2014

Finance Minister, Senator Mohammad Ishaq Dar Thursday appreciated the Islamic Corporation for the Development of the private sector (ICD) for its support to Pakistanís private sector and for providing financial services for the privatization process of the country.

The finance minister was talking to ICD Chief Executive Officer, Khaled Mohammed Al-Abondi on the sidelines of the Annual Meeting of Islamic Development Bank Group, in Jeddah.

Dar said Pakistan wishes to strengthen its relationship with ICD and will support its operations in Pakistan.

The Finance Minister further appreciated ICDís submission, along with Burj Bank, of bid for appointment as Financial Adviser for launch of planned US$ 1 billion Sukuk.

He informed that the bids received will be evaluated after presentations which are being arranged within a week.

He assured that ICDís bid will be evaluated on merit in accordance with Pakistanís rules, procedures and statutory requirements, adding due consideration will be given to ICDís Articles of Agreement.

On the occasion, CEO ICD congratulated the minister on visible improvement in micro-economic indicators as a result of transparent and credible economic policies of the government of Prime Minister Nawaz Sharif.

He assured ICDís enhanced role in Pakistan to support the economic development through provision of finance to private sector projects in accordance with the principles of the Shariía law.

Both the dignitaries also discussed various areas of cooperation and agreed to move forward with some practical measures in near future.

The meeting was also attended by Saleem Sethi Secretary Economic Affairs Division and Consul General Aftab A Khokhar.

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Source: Frontier Star (Pakistan)

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