May 10, 2022: Federal Minister for Finance and Revenue, Mr Miftah Ismail, held a meeting with Mr Hartwig Schafer, Vice President South Asia Region (SAR), World Bank, today where, Mr Hartwig Schafer assured his full support to Govt of Pakistan in the implementation of the Government’s reform agenda and the projects funded by the World Bank
Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, Country Director WB Mr Najy Benhassine, Acting Governor SBP Dr Murtaza Syed, Secretary Finance, Secretary Power Division, Secretary EAD, Chairman FBR and other senior officers attended the meeting.
The Finance Minister welcomed Mr Hartwig Schafer and stated that two programs of the World Bank named Resilient Institution for Sustainable Economy (RISE-II) and Program for Affordable and Clean Energy (PACE-II) hold a central position in the reform agenda of the government.
Mr Hartwig Schafer shared his insights about the reform initiatives proposed by the World Bank. These programs not only ensure sustainable growth but also work as effective shock absorbers in case of any economic crisis. He appreciated the resolve of the Government of Pakistan in overcoming the economic challenges.
Key areas discussed in the meeting included the macro-economic situation of the country, fiscal responsibility and debt limitation laws, and financial sustainability of the power sector.
The Finance Minister thanked the VP, World Bank and acknowledged the significant contribution of the World Bank to the socio-economic development of the country. The Finance Minister also emphasized that the World Bank’s continued support will be critical to reforms being pursued by the government of Pakistan.