20000123

ADB team holds talks with SECP for $125m CMDP tranche

ISLAMABAD: The ADB mission on finance and industry on Saturday held a meeting with Security and Exchange Commission of Pakistan (SECP) to review progress regarding capital market development programme (CMDP).

The mission which arrived here on January 20, will hold further meetings with SECP to review the policy performance compliance for the release of $125 million second tranche under capital market development programme loan, informed sources said.

In addition, the mission would also review the implementation performance of the trade, export promotion and industry (TEPI) programme loan, sources said adding that the first tranche of $200 million of TEPI had been disbursed in January 1999.

SECOND TEAM

Another mission from the Asian Development Bank's energy department, which reached here on January 21, will stay up to February 4.

This mission will be holding discussions with the government regarding the policy for development of energy sector, privatisation of public sector utilities and reviewing the power sector performance for the proposed power sector restructuring programme loan.

THIRD MISSION

A third mission from ADB's programmes department would be in Pakistan from January 26 to February 8 to review the 2000 operational programme for Pakistan as agreed during May 1999 with the country programming mission, to ensure that the programme would be feasible and appropriate in the changed economic and political environment.

The mission will also discuss the government's announced interests and plans on decentralisation, governance, poverty reduction and performance based programming, sources added.

In addition to holding discussions with the federal government, the programme confirmation mission would also be visiting the four provinces to meet with the respective chief secretaries (development) and discuss with them the provincial development priorities, sources added. APP