Sunday, December 17, 2017

World Bank to implement the Indus Water Treaty: Dar

Finance Minister Senator Mohammad Ishaq Dar chairing a meeting with Country Director World Bank in Islamabad on 24-12-2016.

ISLAMABAD: (APS)December 24, 2016-Pakistan has asked World Bank to fulfill its role regarding the Indus Water Treaty (IWT).

The demand was made in a letter written by the Finance Minister Ishaq Dar to the President of the World Bank Group, Jim Yong Kim.

The letter from the Finance Minister is a response to the President World Bank’s letter of 12th December and their decision to “pause” the process of empanelment of the Court of Arbitration.

Finance Minister emphasized in his letter that this decision of the World Bank will seriously prejudice Pakistan’s interests and rights under the Indus Waters Treaty 1960.

The letter to the President World Bank has been sent with approval of all concerned stakeholders. It strongly conveys that the matter of appointment of a Chairman of the Court of Arbitration has been inordinately delayed. It urged the World Bank to execute its obligations under the Indus Waters Treaty.

The Finance Minister noted that the “pause” proposed by the President World Bank Group will merely prevent Pakistan from approaching a competent forum and having its grievances addressed.

The letter noted that the Indus Waters Treaty 1960 does not provide for a situation wherein a Party can “pause” performance of its obligations under the Treaty. • Free Website Templates - Downlaod Full Themes