Pakistan's Economic Reforms Strategic, Sustainable: WB

Pakistan's economic reforms strategic, sustainable: WB

ISLAMABAD, (Pakistan Point News - APP - 24th Jan, 2017 ) : The World Bank (WB) Tuesday termed Pakistan's economic reforms as strategic, relevant and sustainable. The remarks were made by WB Director, Finance and Markets Global Practice, Sebastian -A Molineus during a review meeting on WB's portfolio in Pakistan which was chaired by Finance Minister, Senator Mohammad Ishaq Dar. The meeting was attended by WB delegation led by its Country Director, Patchamuthu Illangovan, senior officials of Ministry of Finance, Ministry of Commerce and Securities and Exchange Commission of Pakistan.

Molineus congratulated the Finance Minister on the successful implementation of the reforms and the resultant economic turnaround. He highlighted that the government's reforms have also played a major role in increasing financial inclusion in the country. Molineus expressed interest, on behalf of the World Bank, in initiating projects aimed at facilitating long-term financing in Pakistan, including housing finance. The Country Director World Bank briefed the Finance Minister on the World Bank's portfolio in Pakistan, including the status of various ongoing development projects.

The Finance Minister appreciated the briefing from the Country Director and expressed satisfaction on the progress made so far on the various ongoing development projects being undertaken in Pakistan with the World Bank's support. He expressed appreciation for the cooperation between Pakistan and the World Bank. He also said that both parties must strive to further strengthen this relationship in order to take it to the next step. The Finance Minister thanked Molineus for his remarks regarding the present government's successful economic reforms.

He highlighted that, after having achieved macroeconomic stability, the government is now focused on attaining higher, sustainable and inclusive economic growth. He also welcomed the interest expressed by the World Bank in initiating projects for long-term financing. He said that the government was always ready to cooperate with the World Bank on initiatives that can help improve the quality of lives of the people of Pakistan.