WB chief lays stress on continuity of reforms after polls
By Our Staff Reporter
ISLAMABAD, Oct 31: The World Bank on Wednesday stressed on Pakistan to enhance its capacity building in areas of infrastructure and social sector for enhancement in the bank’s annual assistance from the present $1.5 billion.
Addressing a news conference along with Prime Minister Shaukat Aziz at the Prime Minister’s House after a meeting with him, the visiting World Bank president Robert B. Zoellick said: “At present we are extending annual assistance of 1.5 billion US dollars which can be raised further as Pakistan can use the money in infrastructure and social sectors.”
Earlier, Prime Minister Aziz hoped that as a result of ‘active reforms’ in various areas, the World Bank’s annual financial assistance to Pakistan would be enhanced.
The World Bank chief described Pakistan’s achievements in economic sector as a significant and incredible success, and said that the reforms process should continue after the elections.
Replying to a question, the WB president said it was for the people of Pakistan to decide in the next elections which party or individual they wanted to lead them but in his view, the continuity of reforms would benefit Pakistan and its people.
He said the objective of his visit was to emphasise upon the Pakistani leadership that more reforms were essential for attracting more investment and for being competitive in the world market and reducing poverty
He said that private sector was also seeking increased cooperation and there was a wide range of possibility in this connection.
Mr Zoellick said real strength of Pakistan was its people but it needs to expand its education and health facilities to achieve millennium development goals.
When asked if the bank would be ready to extend assistance for big dams, the World Bank chief hoped to work with the government and extend support wherever possible.
He said water was very important for Pakistan’s development to meet its energy and irrigation needs and added they were extending technical assistance and talking with the government about different ideas in this regard.
About second generation reforms, he said that Pakistan and its leadership should recognise the criticality of the reforms to ensure that the country took advantage of globalisation.
He said Pakistan would require more ports and expansion of infrastructure facilities.
Mr Aziz said Pakistan’s economy had more than doubled in the last five years, and its growth rate was around seven per cent and the country needed to expand infrastructure to match the people’s needs.
“World Bank has been a consistent development partner and Pakistan has been an active reformer in different areas and is looking at getting help from the bank in infrastructure, including electricity, roads, ports and airports as well as in human development side like education and health sectors,” said the prime minister.
He said the World Bank was supporting Pakistan almost in every area which proved that it appreciated the strategy of liberalisation, deregulation and privatisation.
ISLAMABAD, Oct 31: The World Bank on Wednesday stressed on Pakistan to enhance its capacity building in areas of infrastructure and social sector for enhancement in the bank’s annual assistance from the present $1.5 billion.
