The government is committed to improving fiscal management by augmenting domestic revenues and enhancing spending on pro-people development initiatives, said Minister for Economic Affairs Makhdoom Khusro Bakhtiar.
Speaking at the signing ceremony of a $304 million loan from the World Bank for the Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE) on Wednesday, the minister lauded the strategy of the Punjab government on the two fronts. He thanked the World Bank for extending continuous support to the government of Pakistan for achieving sustainable economic development.
On the occasion, World Bank Country Director for Pakistan Najy Benhassine assured the government of Pakistan of persistent support from the global lender in achieving the priority development objectives.
The programme is aimed at helping the government of Punjab to increase its own source revenue, improve reliability of resource allocation and access to digital services for people and firms in the province.
Programme interventions will primarily address three challenging areas including fiscal risk management, revenue mobilisation and expenditure management through better use of information systems. Improved management of public resources is expected to create an additional fiscal space of Rs274 billion by the end of financial year 2025.
Published in The Express Tribune, December 17th, 2020.
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