World Bank chief asks govt to implement fiscal, energy reforms

ISLAMABAD: The World Bank Group President David Malpass, has urged the government of Pakistan to focus on the implementation of Pakistan’s fiscal and energy reforms to stabilise the economy and lay the foundation for sustained growth.

Malpass met with Muhammad Ishaq Dar, Minister of Finance and Revenue and Sardar Ayaz Sadiq, Minister of Economic Affairs of Pakistan.

According to a statement issued by the bank, President Malpass emphasized to the ministers the importance of predictable economic policies to restore macroeconomic stability and market confidence.

Malpass expressed his condolences for the loss of lives and livelihoods due to the devastating floods.

Dar leaves for US to hold meetings with IMF, World Bank

President Malpass highlighted that Pakistan is among the countries most affected by climate change causing devastating damage to infrastructure and agriculture production.

President Malpass reaffirmed the World Bank Group’s (WBG) ongoing commitment to support urgent needs in health, food, shelter, and cash transfers, as well as, accelerating the preparation of new operations to rebuild in a more resilient way.

President Malpass noted the WBG’s active engagement in raising assistance from bilateral donors.

Copyright Business Recorder, 2022