ISLAMABAD, Feb 18: A joint mission of the World Bank and the Department For International Development (DFID), UK, has agreed to provide technical assistance to Pakistan to undertake studies and recommend ways to increase growth and investment in the country.

The mission held a meeting with Adviser to the Prime Minister on Finance Dr Salman Shah here on Saturday.

The adviser suggested to the mission to go through the draft of competition law prepared by the Monopoly Control Authority (MCA) in order to improve and finalize the same by the end of March for submission to the prime minister for approval.

While discussing an access to finalize the study, the meeting took note of various barriers faced by financial outlets in case of remittances and higher cost of their transaction.

The adviser suggested that strategy/roadmap for financial services should also focus the introduction of rural-based banking in Pakistan. “To capitalize the huge resource base of overseas Pakistanis, we need to devise suitable products for them so as to increase the flow of investment into Pakistan.”

The delegation assured that the study would recommend ways for expanding access to finance and improving competition laws framework.

The meeting also discussed the modus operandi to expand access to finance and options to improve competition laws in Pakistan.

The mission also made a presentation to the adviser highlighting the broad framework of the strategy.

The mission comprised DFID private sector development adviser Haroon Sharif, programme manager Tim Hatton, economic adviser Ms Valsa Shah, World Bank lead social sector specialists Steve Rasmussen and Mamoos Zaheer.