Economic policies start having positive impact: minister


ISLAMABAD: The economic policies pursued during the last 10-month by the current government has started producing positive impact on the overall economy of the country. Minister for Finance Senator Ishaq Dar talking to Austrian Ambassador Axel Wech accompanied by embassy officials on Thursday informed the Austrian team with the successful launch of euro bond in the international market and transparent auction of 3G/4G Spectrum, the confidence of international investors in Pakistan was overwhelming.He said there was huge potential in energy and infrastructure development in Pakistan and Austrian companies could benefit from these opportunities.He emphasised on oil and gas exploration, a field in which Austrian companies were working in many areas of world.Dar appreciated the contribution Austrian companies were making in hydrocarbon exploration and electricity generation and assured complete support for the endeavours.The Ambassador said Austria and Pakistan have enjoyed steady and friendly relations over the years. He informed Dar Austrian companies based in Pakistan were currently involved in the oil and gas exploration, energy sector, water treatment, construction and mechanical engineering fields.He said bilateral trade relations focused on energy and infrastructure projects as far as Austrian exports were concerned and textiles, garments and leather goods for Pakistani exports.He expressed interest of Austria in hydropower generation in Pakistan with particular reference to financing 1,300 megawatts additional power project on Tarbella 5 with a cost of $400 million. He said the project could be completed by end of 2017. 

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