Islamabad: Prime Minister Shehbaz Sharif says the twenty billion dollars investment by the World Bank in health, education, youth development and other social sectors projects will open new avenues of development in Pakistan.
He was talking to a delegation of the Executive Directors of the World Bank, which called on him in Islamabad today (Monday).
The Prime Minister, welcoming the delegation, said the partnership between Pakistan and the World Bank spans over the past seven decades.
He said several major projects related the national development were executed in Pakistan with the support of the World Bank, which played a key role in the country’s development.
Shehbaz Sharif said Pakistan gained a lot of benefits from partnership with the World Bank. He said the Bank overwhelmingly helped the victims of devastating floods in Pakistan during 2022.
He expressed gratitude to the World Bank for posing trust in the government policies.
The Prime Minister informed the World Bank’s delegation that Pakistan’s institutional and economic reforms program is advancing rapidly.
He said the country’s economy is moving in the right direction and towards growth. However, there is still a long way to go for the sustainable development of the country’s economy.
Shehbaz Sharif said the country’s exports and remittances are increasing, while the investment in manufacturing sector is also witnessing an upward trajectory due to reduction in policy rate.
He apprised the World Bank’s delegation that transparency is being ensured in the system to control corruption and work on digitization in Federal Board of Revenue through reforms is underway on priority basis.
The Prime Minister said the government is reducing losses and ensuring uninterrupted electricity supply through reforms in the power sector.
He said an attractive investment environment has been created in the country through Special Investment Facilitation Council, which operates under a unique system of participation of all stakeholders.
He added instead of loans, investment and partnership are the priorities of the government.
On its part, the World Bank’ delegation commended the implementation of ongoing reforms program in Pakistan saying that it is yielding positive results, which is a welcoming development.
They appreciated that Pakistan’s economic reform journey is progressing rapidly under the leadership of Prime Minister Shehbaz Sharif.
The delegation also lauded the government’s reforms initiatives in energy, industry, exports, privatization, revenue and other sectors.
