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Business & Finance

Pakistan, WB discuss projects to uplift rural economy

  • In order to improve the rural economy, it was discussed to improve agriculture productivity through provision of improved seeds and efficient water management system.
26 May, 2021

Minister for Economic Affairs Omar Ayub Khan, held a consultative meeting with Najy Benhassine, Country Director, World Bank in the Ministry of Economic Affairs to discuss ongoing projects and development priorities of Government of Pakistan for the next years.

The Minister for Economic Affairs highlighted that lack of economic opportunities and limited connectivity of rural area with urban centers have caused the income gap between urban and rural residents. He said rural development is vital to sustainable socioeconomic development and environmental viability of a country.

In order to improve the rural economy, it was discussed to improve agriculture productivity through provision of improved seeds and efficient water management system. It was highlighted that cold storages are critical to manage short-term demand-supply gaps and price stability. Furthermore, farmer and non-farmer residents of rural areas can enhance their income through valuate addition in agricultural products.

Both the sides also emphasized on the need of improved rural infrastructure including farm to market roads. The improved connectivity between the rural and urban areas will not only facilitate the travelers but also unleash the development potential the remote areas. A reliable and efficient farm to market road network helps to improve supply chain of agricultural products to urban consumers and agro-based industries.

Najy Benhassine, Country Director, World Bank emphasized on the timely completion of the ongoing reforms and development projects. He also ensured the WB’s continuous support to the government in achieving the priority development objectives.

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