ISLAMABAD : Dr Abdul Hafeez Shaikh meeting with Mr. NajyBenhassine, Country Director World Bank
\nAdvisor to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh held an introductory
\nmeeting with the newly appointed Country Director of the World Bank in Pakistan, Mr. Najy
\nBenhassine.
\nThe World Bank portfolio in Pakistan includes 56 active projects amounting to approximately $11
\nbillion. The portfolio supports reforms and investments to strengthen institutions, particularly in
\nfiscal management and human development.
\nDr Shaikh welcomed the Country Director and appreciated the strong working relationship between
\nthe Government of Pakistan and the World Bank. He highlighted the reforms initiated by the
\nGovernment to tackle the balance of payment crisis in 2018\/19 and bring stability to the economy.
\nDr Shaikh shared details of how the COVID pandemic has adversely impacted the economy and
\nslowed down the reforms program.
\nDr Shaikh outlined the steps taken by the Government to tackle the COVID 19 pandemic and
\nstimulate the economy. In particular, he highlighted the Prime Minister\u2019s Ehsas program where over
\n16 million of the most vulnerable households have benefitted from cash transfers. Similarly,
\nsupport provided to SMEs and business in the form of subsidized payroll loans, deferred loan
\nrepayments and subsidy on power bills have supported economic activities during the pandemic
\ninduced downturn.
\nMr. NajyBenhassine appreciated the strong response by the Government during the COVID 19
\npandemic and highlighted the World Banks support to the emergency response with projects
\ntotalling almost half a billion dollars to help the country prevent, detect and respond to the
\npandemic and strengthen public health preparedness.
\nDr Hafeez Shaikh appreciated the support provided by the World Bank during the pandemic and
\nstressed on the need to continue with the reform\u2019s agenda. In particular, he stressed on the need to
\nstrengthen public finances with a focus towards enhancing the tax base and improved expenditure
\nmanagement. He requested technical inputs from the World Bank on the pension reforms currently
\nbeing prepared by the Ministry of Finance.
\nLooking ahead both sides reaffirmed to strengthen the relationship and remove bottlenecks in
\nexecuting the development projects funded by the World Bank. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD : Dr Abdul Hafeez Shaikh meeting with Mr. NajyBenhassine, Country Director World Bank Advisor to the Prime Minister on Finance & Revenue Dr Abdul Hafeez Shaikh held an introductory meeting with the newly appointed Country Director of the World Bank in Pakistan, Mr. Najy Benhassine. The World Bank portfolio in Pakistan includes 56 active […]<\/p>\n","protected":false},"author":2,"featured_media":139870,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-139866","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n