- The vision of the new program is to transform Pakistan's economy: PM.
- “Deep structural changes in progress in state organizations.”
- The country says to witness a great investment in several key sectors.
Islamabad: Prime Minister Shehbaz Sharif described the launch of the Financing Program of $ 20 billion decades of the World Bank for Pakistan, a “timely intervention” to solve the country's central problems, including the economy, poverty, digitalization and Climate changes.
“Today is the big day in the history of Pakistan in terms of relations with the World Bank,” said Prime Minister when he went to the launching ceremony of the country association framework for Pakistan from fiscal year 26 to fiscal year 35
Prime Minister Shehbaz added that the global financial institution has supported the country during the decades and that vital projects were built with their aid, from the generation of Hydel energy to the reform of several national organizations, including the Federal Income Board ( FBR).
“This new program is a vision to transform Pakistan's economy, improve climate resilience, poverty relief, promote digitalization, agriculture and initiatives directed by you throughout the country.”
The prime minister described the initiative of a decade as the World Bank brand in Pakistan.
Highlighting the achievements of the titular government, the prime minister said that deep structural changes were being made in state organizations that were delayed. He admitted that the reforms should have been carried out decades ago, but now they are being implemented.
He specifically mentioned the digitalization of the country's income board, saying that the process was progressing quickly and is on their way.
The prime minister also said that a pilot project for faceless interaction between importers and customs officials was now operational in the port of Karachi that will be replicated in other ports in the country, including dry ports.
Prime Minister Shehbaz also expressed his gratitude for the vice president of the BM for southern Asia Martin Raiser for the multi -million dollar financing program.
He also praised the economic team, the bureaucrats and other experts in the country for the successful launch of the initiative.
At the end of his comments, Prime Minister Shehbaz announced that under the new program, the country would witness a great investment in several key sectors, including education and health, in addition to mitigating the damage of the floods of 2022.
During the ceremony, Vice President Raiser promised the continuous assistance of the World Bank to Pakistan and stressed that six sectors were being attacked under the framework of 10 years.
The International Financial Institution announced its plan for Pakistan earlier this month, promising $ 20 billion in areas that include clean energy and climate resilience.
The World Bank said that political and institutional reforms to boost private sector growth and expand the fiscal space for government investment in crucial areas would also be key.
“We are focused on prioritizing investment and advice interventions that will help the abundance of private investments that are very necessary in critical sectors for sustainable growth and the creation of the employment of Pakistan, including energy and water, agriculture, access At finance, manufacturing and digital infrastructure, “Zeeshan said,” said Zeeshan Sheikh, country manager of the Bank's International Finance Corporation for Pakistan and Afghanistan in a statement.
The World Bank has currently committed around $ 17 billion to Pakistan for 106 ongoing projects.
The country has advanced to the edge of the economic crisis for several years and international economists and financial institutions have requested important economic reforms.
Pakistan is currently under a program to rescue international monetary funds of $ 7 billion, which requires the country to drive government income and underpin external sources of financing, much of which comes from loans from China and Gulf nations.
