BAFL 46.20 Decreased By ▼ -0.17 (-0.37%)
BIPL 20.20 Increased By ▲ 0.05 (0.25%)
BOP 5.34 Increased By ▲ 0.02 (0.38%)
CNERGY 4.63 Increased By ▲ 0.03 (0.65%)
DFML 17.20 Increased By ▲ 0.60 (3.61%)
DGKC 77.60 Decreased By ▼ -0.25 (-0.32%)
FABL 28.40 Increased By ▲ 0.19 (0.67%)
FCCL 20.29 Increased By ▲ 0.14 (0.69%)
FFL 9.38 Increased By ▲ 0.16 (1.74%)
GGL 12.91 Increased By ▲ 0.10 (0.78%)
HBL 112.25 Increased By ▲ 0.75 (0.67%)
HUBC 126.05 Increased By ▲ 2.25 (1.82%)
HUMNL 7.75 No Change ▼ 0.00 (0%)
KEL 3.30 Increased By ▲ 0.03 (0.92%)
LOTCHEM 28.15 Decreased By ▼ -0.30 (-1.05%)
MLCF 41.85 Increased By ▲ 0.10 (0.24%)
OGDC 114.88 Decreased By ▼ -0.62 (-0.54%)
PAEL 19.17 Increased By ▲ 0.13 (0.68%)
PIBTL 5.50 Decreased By ▼ -0.08 (-1.43%)
PIOC 112.50 Decreased By ▼ -0.10 (-0.09%)
PPL 99.75 Decreased By ▼ -0.45 (-0.45%)
PRL 25.84 Increased By ▲ 0.14 (0.54%)
SILK 1.09 Decreased By ▼ -0.02 (-1.8%)
SNGP 67.99 Increased By ▲ 0.19 (0.28%)
SSGC 12.59 Increased By ▲ 0.04 (0.32%)
TELE 8.60 Increased By ▲ 0.10 (1.18%)
TPLP 13.41 Increased By ▲ 0.01 (0.07%)
TRG 86.30 Increased By ▲ 0.65 (0.76%)
UNITY 26.80 Increased By ▲ 0.15 (0.56%)
WTL 1.60 Increased By ▲ 0.02 (1.27%)
BR100 6,376 Decreased By -1.5 (-0.02%)
BR30 22,344 Decreased By -32.2 (-0.14%)
KSE100 62,487 Decreased By -5.9 (-0.01%)
KSE30 20,799 Decreased By -29.5 (-0.14%)

World Bank indicates $2bn disbursement to Pakistan during FY24

  • Finance Minister Dr Shamshad Akhtar reaffirms Pakistan values its development collaboration with the bank
Published September 9, 2023

World Bank country director for Pakistan Najy Benhassine met with caretaker Minister for Finance Dr Shamshad Akhtar on Saturday and indicated that "joint efforts are targeting disbursements of around US$2.0 billion during the current financial year," according to a statement issued by the Ministry of Economic Affairs.

The meeting's participants, according to the statement, "discussed and reviewed the overall performance of the World Bank's ongoing portfolio in Pakistan."

The statement further stated that several possibilities were reviewed to advance collaboration in various "priority areas further to help boost the economic activities in the country."

The finance minister reaffirmed that Pakistan values its development collaboration with the World Bank.

She commended the management of the World Bank, particularly the country team in Islamabad, for its efforts to help Pakistan's economy.

The World Bank Management is working with the Ministry of Finance, Revenue, Economic Affairs, and Privatization to improve the ongoing portfolio's implementation performance as well as to increase the amount of foreign resources disbursed, according to Najy Benhassine, who briefed the finance minister on the project.

The government's reform strategy and ongoing attempts to stabilize the economy were discussed by the finance minister.

She added that Pakistan's government is aware that enacting reforms in priority industries, particularly the energy sector, will help the country reach its full potential for economic growth.

As a result, introducing policy reforms in this industry will continue to be the government of Pakistan's main priority, she said.

"The Country Director briefed the Finance Minister on the progress under the RISE-II Development Policy Financing Program, which has recently been negotiated by the World Bank with EAD," the statement continued.

The Finance Minister also praised the World Bank for its prompt assistance during the floods of 2022.

The Finance Minister asked the Country Director to increase World Bank funding in order to better meet the country's urgent demands given the sizeable post-flood rehabilitation and reconstruction needs.


Comments are closed.

KU Sep 09, 2023 10:02pm
If minuscule importance is given to the opinion of the people of Pakistan, they will tell you that in the presence of corrupt officials, there is zero chance of any relief or change in the economy despite getting billions of dollars in loans.
thumb_up Recommended (0)
Faisal Kandhro Sep 09, 2023 10:33pm
@KU, Pakistani people are the problem, their opinions don't matter on economy. We're the one ruining the economy for not educating our children, we're the one's not paying electricity bills and taxes on agriculture and income. We as a nation are failed while our leaders are trying to balance it by getting more loans so that we could steel electricity, demand government jobs and spending on imported items, those who have money invest in dollar market, real estate, car business, hotel business which do not contribute much in national economy but rather puts pressure on government
thumb_up Recommended (0)

World Bank indicates $2bn disbursement to Pakistan during FY24

Four countries: FBR decides to ink deal on Electronic Data Interchange

Pakistan not on agenda of IMF Executive Board meeting

Overbilling in violation of Nepra Act: All Discos including KE to face legal proceedings

Commodities being imported by TCP: Govt decides to change payment mechanism

War risk insurance rates edge up

Nov oil sales rise 9pc MoM

Issues related to KE: Al-Jomaih shares its ‘ordeal’ with PM, petroleum minister

Cypher case: IK says will ‘drag’ Bajwa, US embassy officials through the courts

ECP likely to get election funds soon

Israeli ground forces move into southern Gaza