Daily Times

ISLAMABAD: Two day conference of South Asian Association for Regional Cooperation (SAARC)’s finance ministers would kick off today (Thursday) in Islamabad with the absence of Indian and Bangladeshi finance ministers.

An informed source told the Daily Times that all the delegates have arrived except the Indian Finance Minister Arun Jaitley and Bangladash Finance Minister Abdul Maal Abdul Muhith. In the absence of Arun Jailtey, Secretary of Economic Affairs Shaktikanta Das would lead the Indian delegation and State Minister for Finance M.A Mannan represents the Bangladesh side, sources said.

Pakistan has invited all SAARC member states including Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka. The prime minister of Pakistan has very kindly consented to grace the inaugural session of the ministerial meeting on August 26,. All the member states have confirmed their participation in the meeting. Pakistan would provide local hospitality to all the delegates of the member states.

The SAARC Participant’s would review the updated implementation status of different activities being carried out in the region under SAARC mechanism including custom cooperation, avoidance of double taxation, promotion and protection of investment, cooperation in the banking sector, and trade liberalisation. It would also recommend measures to enhance regional cooperation in order to move fast towards South Asian Economic Union. The outcome of these meetings would complement the agenda of the upcoming 9th SAARC Summit to be hosted by Pakistan in Islamabad on November 9 and 10 this year.

It is pertinent to mention that Indian government had informed Pakistani government on Tuesday that Finance Minister Arun Jailtey would not participate in 8th SAARC Conference. On the other hand, Bangladesh is not sending its Finance Minister Abdul Maal Abdul Muhith to this event. Muhith in a statement in February called Pakistan ‘a rogue state’.