Pakistan, Canada agree to enhance economic ties
By Asad Cheema

ISLAMABAD—Canada and Pakistan here on Tuesday agreed to increase economic cooperation and pledged to support sustainable development to reduce poverty and contribute for a more secure, equitable and prosperous Pakistan. The pledge was made during a meeting between Federal Minister for Finance, Revenue, Economic Affairs and Statistics, Senator Muhammad Ishaq Dar and Canadian High Commissioner to Pakistan David B. Collins, said a press release issued here.
The two sides discussed steady increase in the Canadian assistance to Pakistan in the fields of water supply, sanitation, health and reproductive health projects being implemented through Canadian International Development Agency (CIDA).
Bilateral ten-year strategy proposed by CIDA focusing on basic education, gender equality and democratic accountability also came under discussion.
It was agreed that through annual bilateral consultation the two governments would discuss implementation of the Canadian assistance.
The current Canadian assistance to Pakistan is approximately 48 million Canadian dollars a year.
Senator Muhammad Ishaq Dar appreciated signing of MoU on Canadian Debt Swap of 449 million Canadian dollars to be utilized by Pakistan in education sector, particularly for teachers’ training at the federal and provincial teachers’ training institutes during the next five years.
He also appreciated Canadian assistance for energy resource development and national conservation to protect the environment and its collaboration with the Lahore University of Management Sciences (LIMS).
The two sides also discussed Canadian grant of 123 million Canadian dollars for the relief and rehabilitation of quake affectees through the UN and Red Cross.
Out of this amount, 83 million Canadian dollars have been provided for emergency relief, while the remaining 40 million dollars have been used partially for construction of primary schools in Azad Kashmir.
Senator Ishaq Dar said that the government would pursue the policy of transparency and was committed to bringing down fiscal deficit and inflation to a manageable level.