ISLAMABAD: Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar said the incumbent government was committed to facilitate private sector development in the country for achieving sustained economic growth.

Talking to Vice President Economics and Private Sector Development of International Finance Corporation Hans Peter Lankes, he said the private sector would be the engine of future growth and development paradigm.

Vice President Economics and Private Sector Development of International Finance Corporation called on the minister here, said a press release issued Wednesday.

Members planning commission and senior officials of the ministry were also present in the meeting.

The minister said Pakistan valued its partnership with IFC and appreciated its contribution and support for development of private sector in the country.

Noting that IFC could help in further enhancing private investment in Pakistan, the minister said a strong private sector was indispensable to ending poverty, generating employment and boosting shared prosperity across the country.

The minister stated that SME’s were identified as drivers of economic growth in our future growth strategy, adding FC may look into increasing private investment in this sector.

IFC Vice President apprised of IFC’s program in support of Pakistan and said the corporation was looking into the possibility of increasing annual investment for Pakistan to support the country’s economy.

He said focus was being given to housing, energy and power sectors as well as support financial inclusion and long term finance for development of private sector.

He informed that IFC was one of the largest investors in Pakistan’s power sector and had made substantial commitments in this regard.

He expressed commitment that IFC will continue to contribute to the development of Pakistan.