ISLAMABAD,(Financial Updates) : The World Bank’s(WB) high official assured Pakistani economic team it would provide all possible cooperation to the county in facing the economic challenges.
This was stated by Vice President of the Bank for South Asia Ms. Isabel Guerrero while meeting the Federal Minister for Finance Dr. Abdul Hafeez Sheikh here on Friday.
During the meeting, Dr, Abdul Hafeez Shaikh said the World Bank has played a crucial role in economic development of Pakistan and the government expects this relationship would be continued in future as well.
While giving an overview of Pakistan's economy, Dr. Hafeez Sheikh highlighted the challenges being faced by the national economy, like inflationary pressure, energy deficit and circular debt. Nevertheless, he said, the present government has taken measures to counter these challenges. For example, in order to maintain macro-economic stability, policies of fiscal, debt reduction and reducing inflation to single digit are being followed. Similarly, for the process of growth acceleration, the government has introduced structural reforms, productivity and efficiency enhancement process, improvement in governance and encouraging private investment, he added.
Appreciating the signs of improvement in Pakistan's economy, Ms. Isabel Guerrero said that the World Bank would provide all possible assistance to Pakistan in facing the economic challenges. She said that Pakistan's economy has the potential to grow and the World Bank wants to see Pakistan moving on the path of development with a vibrant economy.
Earlier, the World Bank delegation was briefed about the state of Pakistan's economy by the senior officials of Ministry of Finance and Economic Affairs Division.
The meeting was also attended by Minister of State for Finance, Ms. Hina Rabbani Khar and Deputy Chairman, Planning Commission, Dr. Nadeemul Haq.
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