Govt for fast-tracking World Bank schemes

The government is committed to fast-tracking work on various projects being funded by the World Bank, said Minister for Planning, Development and Special Initiatives Asad Umar.

In a meeting with a delegation of the World Bank on Tuesday, led by Regional Director of South Asia for Infrastructure Guangzhe Chen, Umar appreciated the contribution of the multilateral lender to the socioeconomic development of Pakistan.

Various schemes being funded by the World Bank were discussed including the projects related to infrastructure, energy, clean drinking water, drainage, education and healthcare.

Referring to the K-IV project, the minister said that the provision of clean drinking water and improvement in the drainage system of Karachi were among top priorities of the government.

Owing to effective measures taken by the government, the growth in circular debt had been curtailed to a large extent, he told the delegation.

“The government is keen to reform the power sector with special focus on the reduction in circular debt,” he said. “The leadership is fully committed to implementing the structural reforms, protection of social spending and enhancement of social safety nets to protect the vulnerable segments of society.”

He emphasised the importance of World Bank’s assistance for the expansion and modernisation of Pakistan’s electricity transmission system.

Highlighting the importance of road connectivity for rural development, the planning minister stressed that effective road networks promoted ease of access to social services such as healthcare facilities and education.

Published in The Express Tribune, November 10^th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.