WB’s financial assistance key to achieve development goals: Hafeez Shaikh
ISLAMABAD: Adviser to the Prime Minister on Finance & Revenue Dr. Abdul Hafeez Shaikh has said Pakistan is pursuing a growth-oriented programme for institutional reforms and economic revival and the technical and financial assistance from the World Bank is vital for achieving various development goals in different sectors of the Pakistan economy.
He made this statement while talking to Mr. Patchamuthu Illangovan, Country Director for the World Bank in Pakistan, who along with his team met the Adviser to apprise him of the upcoming visit of World Bank President David Malpass to Pakistan in the first week of November.
He also conveyed a strong desire from the World Bank management to work with Pakistan to drive institutional reforms and support the growth agenda of the government through any technical or financial assistance required from the Bank.
Mr. Patchamuthu Illangovan told the Adviser that the World Bank 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$9.00 billion as well as firming up of Pakistan’s delegation to attend the annual meetings of IMF/WBG during October, 2019, also came under discussion.
Dr. 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.