Pakistan’s economic performance very impressive: says World Bank President

Finance Minister, Senator Mohammad Ishaq Dar received the World Bank President, Jim Yong Kim and his accompanying delegation, for a meeting at the start of the latter’s two day visit to Pakistan.

The Finance Minister briefed the World Bank President on the economic reforms undertaken by the government which had led to macroeconomic stability in the last two years under the leadership of Prime Minister Nawaz Sharif. The Minister said now the government is focusing on consolidating the gains made so far and it is well set on the path of economic growth and employment generation. 

Mr. Jim Yong Kim in his remarks said that it is his first visit to Pakistan and the significance that the World Bank attaches with Pakistan can be seen from the fact that three Vice Presidents of the Bank including Ms Anette Dixon are accompanying him.  He said it is very impressive to see the economic performance of Pakistan. Our feelings are of strong support for Pakistan, and our message is “yes there is progress”, he stated.

The World Bank President reviewed ongoing and future joint partnership initiatives for fostering economic growth and development in Pakistan. He highly appreciated the fiscal sustainability and power sector reforms programme undertaken by the Government. He termed it all as highly impressive. Pakistan has improved its macroeconomic performance by reducing the fiscal deficit, keeping inflation to a manageable level and replenishing foreign exchange reserves. Dr. Kim praised government’s efforts to put Pakistan’s economy on the path of sustainable growth and encouraged continued reforms to boost development in all sectors of economy. The World Bank President assured of World Bank’s continued support for Pakistan’s economic reforms programme and also for the energy sector development.

President Kim stated that it was remarkable how much the Government had been able to achieve in the last two years.         

World Bank Vice President (South Asia Region), Annette Dixon added Pakistan and World Bank have a strong partnership. She especially referred to the on-going and planned projects in the energy sector. On structural reforms, Annette said the World Bank would be there to extend any assistance required by the Government of Pakistan.

Senior officials of the World Bank and Ministry of Finance attended the meeting.