World Bank official, Shamshad discuss economic situation

ISLAMABAD: Country Director World Bank Najy Benhassine called on Caretaker Federal Minister for Finance, Revenue, Economic Affairs, and Privatization Dr Shamshad Akhtar, at the Finance Division on Tuesday, said a press release.

Njay Benhassine was accompanied by his team including Tobias Akhtar Haque, Lead Country Economist, and Gailius J Draugelis, Operations Manager. The Secretary of Finance, the Secretary of the Economic Affairs Division, and senior officers from the Finance and Economic Affairs Division were also present at the meeting.

Dr Akhtar appreciated the World Bank’s role as one of Pakistan’s major development partners. She also expressed gratitude for the World Bank’s continued support and commitment to Pakistan’s economic growth through its ongoing development projects that will help Pakistan strengthen its fiscal management, undertake foundational reforms, and uplift the masses.

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Dr Akhtar also informed the delegation about the comprehensive measures being taken by the interim government to enhance revenue collection and pursuance of sound fiscal policies. She further underscored the caretaker government’s unwavering commitment to successfully fulfilling its obligations under the IMF program and timely completion of all ongoing development projects.

She also emphasised the government’s determination to prioritize the well-being of its citizens, especially those most vulnerable, through targeted initiatives that promote inclusive development and mitigate the impact of economic challenges on the people of Pakistan.

Najy Benhassine, Country Director of the World Bank, commended Pakistan’s dedication to economic reforms and expressed its readiness to provide technical assistance and financial support to help Pakistan achieve its development goals.

He highlighted the importance of collaboration between the World Bank and the Pakistani government to address pressing economic challenges and promote sustainable development.

During the meeting, both parties exchanged views on their shared vision of promoting economic stability and social development in Pakistan to foster a prosperous and resilient future. Dr Akhtar underscored the need for support for strengthening social safety nets to provide much-needed relief to the masses during challenging economic circumstances.

The meeting concluded with both sides reaffirming their commitment to strengthening the partnership to benefit Pakistan’s economy and people. The World Bank delegation thanked Dr Akhtar and the government of Pakistan for their warm hospitality and constructive dialogue.

Copyright Business Recorder, 2023