PM lauds World Bank support for Pakistan’s economic reforms

ISLAMABAD : Prime Minister Syed Yousuf Raza Gilani on Tuesday lauded the World Bank assistance for Pakistan’s socio-economic development and its support to help invest in infrastructure and social sectors, like health and education. Talking to a high-powered delegation of the World Bank headed by Vice President, Praful C. Patel, who called on him at the PM’s House, Gilani said Pakistan values its relationship with its development partners particularly the World Bank.
He appreciated role of the World Bank in country’s development, and said Pakistan has a growing economy and his government will do its utmost to improve the macro-economic profile to achieve an impressive growth rate and above all, better living conditions for the people of Pakistan.
The Prime Minister hoped the World Bank would continue its active cooperation with Pakistan and help it achieve the newly laid-down priorities of overcoming energy, water and food shortages through construction of new dams and other related projects.
The World Bank Vice President, who was on his farewell call, expressed the unequivocal support of the Bank to the Prime Minister and his government.
The meeting was informed that during the recent years the World Bank’s financial support to Pakistan has increased manifold and the Bank is committed to provide concessional financing.
Patel offered financial assistance to Pakistan from a food crises response fund created by the World Bank in the wake of ongoing world food crises.
He also offered financial and technical assistance for the upcoming budget, due to be annouced on June 7.
Prime Minister Gilani said the people have high hopes from the new democratic government which is fully committed to undertake policies focusing on reducing poverty, increasing per capita income, generating more jobs and improving the living standard of the people.
He told the delegation that the government will soon introduce prudent economic policies and will ensure their successful implementation. The formation of Economic Advisory council is a step in this direction, he added.
Patel briefed the Prime Minister about the development activities being undertaken by the bank along with improvements and priorities suggested by the mission.
He affirmed that the World Bank would continue to be a partner in the development of Pakistan and would provide necessary assistance in the key areas like water and power, infrastructure, education and other social sectors and poverty alleviation.
The World Bank official assured that the agreed programme would also be delivered well in time during the course of the current financial year.
He expressed the hope that the new democratic government under the able leadership of the Prime Minister, and through its efficient economic management would change the overall outlook of the economy.
The World Bank will provide all possible cooperation and assistance in meeting those objectives, he added.
Federal Minister for Finance, Naveed Qamar, Special Assistant to the Prime Minister on Economic Affairs, Ms. Hina Rabbani Khar and Secretary Finance also attended the meeting.