ISLAMABAD, Sep 09 (DNA): Country Director World Bank called on Minister
for Finance, Revenue, Economic Affairs and Privatization, Dr. Shamshad
Akhtar Saturday.
They discussed and reviewed the overall performance of the World Bank
ongoing portfolio in Pakistan, and different options were discussed to
further expand collaboration in different priority areas to help boost
the economic activities in the country.
Dr. Shamshad Akhtar, while welcoming the World Bank team, reiterated
that Pakistan values its development partnership with World Bank. She
appreciated the efforts of the World Bank management, especially the
country team in Islamabad in the economic development of Pakistan.
The Country Director World Bank Mr. Najy Binhassine, while briefing the
Finance Minister on ongoing portfolio, indicated that the World Bank
Management, in collaboration with Ministry of Finance, Revenue, Economic
Affairs and Privatization, is making efforts to not only improve the
implementation performance of the ongoing portfolio but also to
maximize the volume of disbursement of foreign resources.
He indicated that the joint efforts are targeting disbursements of
around US$2.0 billion during the current financial year, i.e., 2023-24.
The Finance Minister shared the reform agenda of the government and the
ongoing efforts to stabilize the economy. She also informed that the
Government of Pakistan is cognizant of the fact that implementation of
reforms in the priority sectors, particularly in the energy sector, will
allow Pakistan to unleash the growth potential, therefore introducing
Policy Reforms in this sector will remain the prime focus of the
Government of Pakistan.
The Country Director briefed the Finance Minister on the progress under
the RISE-II Development Policy Financing Program, which has recently
been negotiated by the World Bank with EAD.
The Finance Minister commended the immediate support of the World Bank
during the 2022-Floods. However, considering the enormous post flood
rehabilitation and reconstruction needs of the country, the Finance
Minister asked the Country Director for extending further World Bank
support to better cope with the emergency needs of the country.
The meeting ended with a vote of thanks.
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