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Pakistan welcomes new rating agency: "UCRG".

ISLAMABAD -- A delegation of Universal Credit Rating Group led by Mr. Zhanjian Guan, Chairman including Mr. Richard Hainsworth, CEO of UCRG, Mr. Jialin Chen, International Affairs Dagong and Mr. Wei Ding, MD-International Affairs-Dagong called on the Finance Minister in his office on Tuesday.

While talking to the delegation the Finance Minister Senator Ishaq Dar said that there was a need for a new international rating agency and UCRG is a welcome addition. He made these comments after a briefing given to him by Chairman UCRG regarding the purpose and history of launching the Agency.

Senator Ishaq Dar said he was confident that UCRG would maintain the highest professional standards and earn its rightful place in the international financial market.

Mr. Zhanjian Guan said that UCRG is interested to extend its activities in Pakistan and provide its services to Pakistani companies, bourses and evaluate financial products.

Senator Ishaq Dar assured the Chairman UCRG that Pakistan would like to benefit from its expertise and services as it has an ambitious plans to launch infrastructure, power and mega projects in the near future. In this connection he referred to the Gwadar-Kashghar Corridor, Coal Fuelled Thermal Power Plant, Lahore-Karachi motorway besides the need for floating financial products for financing public sector projects.

Senator Ishaq Dar said that a rating company like UCRG which is based in China, a great friend of Pakistan, is good news not only for the Pakistan but also for other emerging economies in the region.
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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:9PAKI
Date:Aug 28, 2013
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