World Bank praises Pakistan's commitment to reforms

Record tax revenues, forex reserves achieved with the help of reforms.

ISLAMABAD: World Bank Country Director Patchamuthu Illangovan extended felicitations to Finance Minister Ishaq Dar, in a meeting, on achieving record level of tax revenues as well as all-time high foreign exchange reserves at the close of financial year 2015-16.

Illangovan said these achievements had been made possible by the commitment of the government to the economic reforms programme.

Referring to the recent agreement between Pakistan and the World Bank for financing the reforms programme for improving competitiveness and growth, he said these reforms would also help spur growth, which was the focus of the government.

He assured Dar of World Bank’s full support for the economic reforms being undertaken by the government and said collaboration between them had been at its best during the just-ended financial year.

Dar said the government had embarked on much-needed structural reforms three years ago and was fully committed to taking them forward. He said results of the reforms carried out so far were very encouraging and all economic indicators had shown substantial progress. He appreciated the support of the World Bank in the process.

Dar shared with Illangovan plans for the next level of reforms to be implemented in the area of finance. The World Bank country director expressed keen interest and assured that the bank would fully support the programme.

Published in The Express Tribune, July 6^th, 2016.

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