September 16, 2006	Saturday	Sha'aban 22, 1427

SINGAPORE, Sept 15: The high GDP growth rates in Pakistan are outcome of liberalisation policies of the government, believes the World Bank. "There is no doubt in my mind that the reforms programme implemented by the government over the past decade and a half are delivering in Pakistan that is amongst the fastest growing economies in Asia despite many problems".

World Bank Economist for South Asia Shantayanan Devarajan said this at a meeting with South Asian journalists here on Friday. "More informed public debate about what works and what doesn’t combined with global experience is emerging as an important force for change in South Asia," he said.

Earlier, World Bank vice-president for South Asia Praful Patel said that strong economic growth in South Asia was creating "political space" for much needed policy and institutional reforms to accelerate and sustain growth and tackle long-standing social and economic problems.

"For the leadership of South Asia it is the chance of a lifetime and for the poor people of South Asia it is a real chance to emerge from destitution and want," he said.

The World Bank will launch a report “Can South Asia end poverty in a generation?” on Saturday here.

Since 1996, GDP growth in Bangladesh, Bhutan, India, Maldives and Sri Lanka has exceeded five per cent a year on an average; Pakistan has been growing at this pace since 2000.

In the past two years India and Pakistan have been averaging GDP growth of nearly 7 per cent. Afghanistan, has been growing at a double digit rates, starting from a very narrow base, says the press release of the bank."In order to use this growth to eliminate poverty in a generation, South Asian countries will need to accentuate and sustain these rates from six to 8-10 per cent a year," said Shekhar Shah, economic adviser in the World Bank.