Dar authorises Jalil Abbas Jilani to sign development policy credit

Jilani has been authorised in order to save time as finance minister is accompanying PM on his UK tour.

ISLAMABAD: On Friday Finance Minister Ishaq Dar has authorised Jalil Abbas Jilani, Pakistan’s Ambassador to Washington DC, to sign the recommendations of the two Development Policy Credit (DPCs) amounting to $1 billion for energy and revenue support to Pakistan.

Currently Dar is accompanying Prime Minister Nawaz Sharif on his visit to United Kingdom and the Secretary EAD is in Dubai for third review by the IMF.

In order to save time and expenditure, Jilani has been authorised to sign the document on the behalf of government.

Earlier on Thursday, the Board of Directors of World Bank had approved three loans for Pakistan totaling $1.125 billion including $600 million for energy sector reforms.

The energy sector loan is aimed at reducing power subsidies and line losses and improving the accountability of the power sector.