Thursday Nov 14, 2024
Thursday Nov 14, 2024
Saturday, 27 August 2016 00:11 - - {{hitsCtrl.values.hits}}
Prime Minister Muhammad Nawaz (fifth from left) in a group photo with SAARC Finance Ministers at Islamabad yesterday. Finance Minister Ravi Karunanayake is on the right
Reuters: Prime Minister Nawaz Sharif on Friday (26) underscored Pakistan’s commitment towards stepping up regional efforts to ensure energy security by sharing indigenous sources of energy.
Sharif was addressing the inaugural session of the 8th meeting of the SAARC Finance Ministers in Islamabad.
“Pakistan has also been a strong advocate for stepping up regional efforts to ensure energy security through sharing of indigenous sources of energy. Pakistan shares the perspective that connectivity is critical to the progress and prosperity of the region and supports in principal the road, air, and rail and water connectivity with the region. We believe that SAARC must position itself to engage interested states and international organisations to develop win-win complementarities for socio-economic progress in the region,” he said.
Sharif said South Asia, which is home to one-fifth of humanity, is endowed with copious human and natural resources and reservoirs of untapped wealth and under-utilised resources, which provide opportunities for development and prosperity in the region.
And that is why, three decades back, South Asian leadership had initiated SAARC, a platform to harness this potential for peace and prosperity of the people, in order to make the region free of economic constraints and social ills.
In his welcome address, Pakistan’s Finance Minister Ishaq Dar said although significant headways have been made in economic integration and cooperation between SAARC members, there is need to remove non tariff barriers and to simplify procedures in order to enhance collaboration in trade, investment and energy sectors.
He said the proposals to be finalised in Friday’s meeting will be presented before the SAARC summit to be held in November in Islamabad.
“I would also like to acknowledge the commitment and readiness of the honourable ministers participating in the meeting. I hope we will focus on core issues today and would come up with practical and time bound recommendations that would be submitted for the consideration of our leaders during the upcoming SAARC Summit which is to be held on 9th and 10th of November in Islamabad,” Dar said.
According to Finance Ministry officials, Finance ministers from Bangladesh, Sri Lanka, Nepal and Bhutan, and Deputy Finance Ministers of the Maldives and Afghanistan are attending the conference while India’s economic affairs secretary is representing his country.
The two-day event is being attended by around 100 delegates from the eight SAARC countries.
