Finance Minister Ishaq Dar is in Washington on a five day visit during which he asked the Pakistanis residing in US to come forward and invest in the development fund set up by the government.
He was referring to the fund that has been established to bring major infrastructure development projects in the country. The minister informed that the proposed Pakistan Development Fund will be established in partnership with the Asian Development Fund.
The government will be offering $1.3 billion of shares under this scheme to overseas Pakistanis.
These shares will be non-convertible dollar shares and will be invested in commercially in viable projects in public sector. He said that since the currency is stable, investment in fund will lead to a good return. He also informed that the government is in negotiations with the International Finance Corporation for setting up a proposed fund named Pakistan Infrastructure Bank. The Pakistan Development Fund will be concerned with public sector projects and the Pakistan Infrastructure Bank would primarily facilitate private sector investments.