Pakistan pursuing growth-oriented programme for economic revival: Finance Advisor

August 22, 2019: Adviser to the Prime Minister on Finance and Revenue, Abdul Hafeez Shaikh Thursday said that Pakistan was pursuing a growth-oriented programme for institutional reforms and economic revival.

Talking to World Bank Country Director, Patchamuthu Illangovan, the minister said that the technical and financial assistance from the bank was vital for achieving various development goals in different sectors of economy.

Illangovan, who along with his team met the adviser, apprised him about the upcoming visit of World Bank President David Malpass to Pakistan in the first week of November.

He conveyed a strong desire from the WB management to work with Pakistan to drive institutional reforms and support the growth agenda of the government, adding that bank would be providing any technical or financial assistance required in this regard.

Illangovan told the adviser that the WB could work on any financial arrangement, looking at the objective need and assessment of the policy matrix as the bank was very supportive of the institutional reforms being undertaken by the government of Pakistan in different sectors of the economy.

He also briefed the adviser on ongoing discussions with the Ministry of Finance on two policy-based lending operations to provide budgetary support to Pakistan, which would be finalized by December, 2019.

Besides, issues related to World Bank’s ongoing portfolio of US $ 9 billion as well as firming up of Pakistan’s delegation to attend the annual meetings of International Monetary Fund/World Bank Group during October, 2019, also came under discussion.

On the occasion, Abdul Hafeez Shaikh welcomed World Bank president’s upcoming visit to Pakistan and hoped the visit would lead to opening of greater avenues for more productive engagement between the World Bank and Pakistan.

APP