Daily Times

Minister for Economic Affairs, Ahad Khan Cheema on Wednesday, expressed his gratitude for the 91.1 million euro German support for Pakistan’s post-flood, climate-resilient reconstruction.

He also appreciated the long-standing partnership between the two countries since 1961 encompassing total development assistance of 4 billion from the Federal Republic of Germany, said a press release issued here.

The meeting between Minister for Economic Affairs, Ahad Khan Cheema and German Federal Minister for Economic Cooperation and Development Mrs. Svenja Schulze.

Ms. Svenja Schulze, Federal Minister for Economic Cooperation and Development (BMZ), Government of Federal Republic of Germany called on the Minister for Economic Affairs, Ahad Khan Cheema along with the delegation comprising of German Parliamentarians, German Ambassador to Pakistan, and other senior officials.

Ahad Khan Cheema welcomed the Federal Minister for Economic Cooperation and Development and members of her delegation on their visit to Pakistan.

He appreciated the Government of Federal Republic of Germany for being a valuable development partner and specifically highlighted its bilateral economic assistance and support extended to Pakistan for attaining the GSP+ status.

The Minister highlighted revenue generation, export-led growth, increased agriculture modality, information technology, and human resource development as key priority areas for driving the economic agenda of the Government. He further emphasized that the reforms are being undertaken within the framework agreed with the IMF.

In addition, the Minister appreciated German support for Hydropower Projects in Pakistan and the Pakistan-German Climate and Energy Partnership.

He expressed hope that the Government of Germany would continue its support in areas of clean energy and climate change, and the pipeline assistance would not be subject to any budgetary cuts.

The German Minister highlighted that the Pakistan-German partnership has withstood the test of time and has produced significant outcomes in the jointly identified areas of cooperation.

Svenja Schulze on this occasion announced that the German government will provide 24 million euro to Pakistan for projects in the field of sustainable energy and emissions trading. Furthermore, she acknowledged the potential of the textile industry of Pakistan and emphasized the need for its further development and future Pak-German cooperation in this sector.

Both sides agreed on the importance of climate-friendly projects and the development of Small and Medium Enterprises (SMEs) as the critical factors for the economy of Pakistan.