“World Bank Praises Pakistan’s Commitment to ‘Economic Reform Efforts'”

- Pakistani news - September 8, 2023
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world bank

“World Bank Hails Pakistan’s Commitment to Economic Reforms and Offers Support

ISLAMABAD: In a meeting with Pakistan’s Caretaker Federal Minister for Finance and Revenue, Dr. Shamshad Akhtar, World Bank Country Director Najy Benhassine praised Pakistan’s unwavering dedication to economic reforms. The institution expressed its readiness to provide both technical assistance and financial support to aid Pakistan in achieving its development objectives, according to ARY News.

Najy Benhassine led a delegation, including Tobias Akhtar Haque, Lead Country Economist, and Gailius J Draugelis, Operations Manager, during the meeting. The gathering also saw the presence of key officials from the Finance and Economic Affairs Division, including the Secretary Finance and the Secretary Economic Affairs Division.

Dr. Shamshad Akhtar acknowledged the World Bank’s significant role as one of Pakistan’s primary development partners. She expressed gratitude for the World Bank’s continuous support, emphasizing its contribution to Pakistan’s economic growth through ongoing development projects. These projects aim to enhance fiscal management, enact fundamental reforms, and uplift the nation’s population.

The finance minister informed the delegation about comprehensive measures undertaken by the caretaker Government to boost the country’s revenue collection and pursue sound fiscal policies.

Dr. Shamshad Akhtar emphasized the caretaker Government’s unwavering commitment to fulfilling its obligations under the IMF program and completing ongoing development projects on time. She underscored the government’s determination to prioritize citizens’ well-being, especially the most vulnerable, through targeted initiatives promoting inclusive development and mitigating the impact of economic challenges on Pakistan’s people.

Najy Benhassine reiterated the World Bank’s admiration for Pakistan’s dedication to economic reforms and reiterated its readiness to provide technical and financial assistance. He stressed the importance of collaboration between the World Bank and the Pakistani Government in addressing pressing economic challenges and fostering sustainable development.

During the meeting, both parties discussed their shared vision of promoting economic stability and social development in Pakistan to ensure a prosperous and resilient future. Dr. Akhtar highlighted the need for support to strengthen social safety nets, providing relief to the masses during challenging economic circumstances.

The meeting concluded with both sides reaffirming their commitment to strengthening the partnership for the benefit of Pakistan’s economy and its people. The World Bank delegation expressed gratitude for Pakistan’s warm hospitality and constructive dialogue, thanking Dr. Shamshad Akhtar and the Government of Pakistan.”