Finance Minister lauds World Bank's efforts for Pakistan’s economic stability

ISLAMABAD: Caretaker Finance Minister Dr. Shamshad Akhtar has reiterated that Pakistan values its development partnership with World Bank, ARY News reported.

Talking to Country Director World Bank Najy Binhassine in Islamabad on Saturday, she appreciated the Banks’s efforts for economic development of Pakistan.

The Finance Minister also 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, she asked the Country Director to extend further support to better cope with the emergency needs of the country.

Dr. Shamshad Akhtar also shared the reform agenda of the government and the ongoing efforts to stabilize the economy.

She 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 its growth potential, therefore introducing Policy Reforms in this sector will remain the prime focus of the Government 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.

During the meeting, they also discussed and reviewed the overall performance of the World Bank’s 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.