WASHINGTON, April 22: The World Bank on Wednesday praised as "outstanding" the economic performance achieved by Pakistan, and was appreciative of exceeding the targets of growth
and collection of revenues.
The exchange of views took place at a meeting Finance and Economic Affairs Minister Shaukat Aziz held with Praful Patel, World Bank's vice president for South Asia. They discussed all aspects of economic performance of Pakistan, measures taken and determination in place to meet the set targets in the time ahead.
"Every aspect and department of finance and economic activity in respect of Pakistan came up under discussion in the meeting," official sources later told APP. The World Bank noted that it was "a matter of delight and accomplishment" that the World Bank Executive Board, which reviewed Country Assessment Strategy for Pakistan at its meeting on Tuesday "was highly appreciative of Pakistan's outstanding economic performance."
Hence, the executive board was convinced to extend "overwhelming support" to Pakistan in its endeavours to achieve even better performance results. The board was of the view that Pakistan is undertaking "a superb performance" under the financial management team led by Finance Minister Shaukat Aziz.
Briefing later, Malik Mushtaq, Incharge Economic Affairs Division, Embassy of Pakistan, who accompanied the minister in the meeting, said "the key areas which were pointed out before the World Bank vice-president, and the country team were that Pakistan had more stress on infrastructure, which includes railways' rehabilitation, and road construction - not only in the settled areas but also in the tribal areas of Pakistan."
Mr Shaukat stressed on the capacity building, especially training manpower not only in the general education but in specialized areas. The minister also asked the World Bank for lending support to task of urban improvement, and urged it should at least pick one big city, to start with, which can be Karachi or Lahore, and the service improvement and service delivery system of infrastructure be a major consideration.
While agreeing with the minister, Mr Praful said they were already working on the infrastructure programme for water and energy sector, and in this regard, he referred to the presentation he made recently before the President of Pakistan.
This, he stated would help make Pakistan's power sector more efficient, as it would become cost-effective for trade and industry. The welcome reduction in cost of electricity, would make industry much more competitive in the international market. -APP
