SAARC finance secretaries meet begins tomorrow

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New Delhi, Sept 13 (UNI) Development of capital market in South Asia among other issues will come up for discussion at the second meeting of South Asian Association for Regional Cooperation (SAARC) finance secretaries here tomorrow.

Notwithstanding political torbulence in Pakistan, a delegation from the neighbouring country has arrived in the Indian capital to take part in the two-day meet.

Advisor on economic and financial matters to government of Pakistan, Dr Salman Shah, confirming discussion on the capital market, today said there is much to learn from the Indian capital market which, he added, has advanced capability. '' We can also learn from the risk management system,'' in the Indian capital market, Dr Shah said.

SAARC had earlier formed an inter-ministrial group to examine the issue of developing and inter-linking the South Asian capital market which was discussed by an expert group. The decision was taken at the second informal meeting held at Kyoto in Japan in May this year on the sidelines of the 40th annual meeting of the Asian Development Bank.

Dr Shah said besides discussion at the multilateral forum of eight nations Pakistan will also utilise the opportunity for holding bilaterals on issues of mutual interests. He said discussion on financial matters with India will also form a part of the ongoing composite dialogue between the two nations. ''The (composite) dialogue have political and economic areas and both have to work in tandem,'' he added.

He said the meeting will discuss ways and means of using SAARC development fund of 300 million dollars for the development of the region and its people. Opertionalising and expanding the fund is an important issue that will engage the finanace secretaries to be followed by a meeting of the finance ministers of SAARC nations, he added.


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