World Bank president to visit Pakistan in first week of Nov

Published: August 22, 2019
Adviser to PM on finance says country is pursuing a growth-oriented programme for economic revival. PHOTO: REUTERS

Adviser to PM on finance says country is pursuing a growth-oriented programme for economic revival. PHOTO: REUTERS

ISLAMABAD: Pakistan is pursuing a growth-oriented programme for institutional reforms and economic revival, said Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh.

Talking to the World Bank Country Director Patchamuthu Illangovan on Thursday, Shaikh 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 World Bank management to work with Pakistan to drive institutional reforms and support the growth agenda of the government, adding that the bank would be providing any technical or financial assistance required in this regard.

The official 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 finalised by December 2019.

Besides, issues related to World Bank’s ongoing portfolio of $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.

Shaikh welcomed the World Bank president’s upcoming visit to Pakistan and expressed hope that the visit would lead to opening of greater avenues for more productive engagement between the World Bank and Pakistan.

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