WB, Pak Pak sign...

Pakistan Observer - - PAGE 07 -

and re­move en­try bar­ri­ers in the in­sur­ance sec­tor.

In terms of En­hanc­ing Fis­cal Man­age­ment the fo­cus is on with­drawal of dis­crim­i­na­tory con­ces­sions granted through SROs in the past; im­prov­ing debt man­age­ment; and strength­en­ing of so­cial safety net pro­grams, Fi­nance Min­is­ter added.

He said that the Min­istry of Fi­nance and the World Bank team had been work­ing to­gether on the DPC for quite some­times and most of the agreed re­form mea­sures had al­ready been com­pleted. These re­forms would en­hance the com­pet­i­tive­ness and pro­mote ease of do­ing busi­ness in the coun­try.

An­thony Cholst in his re­marks on the oc­ca­sion con­grat­u­lated the Gov­ern­ment of Pak­istan for mak­ing sig­nif­i­cant progress in sta­bi­liz­ing the econ­omy and ini­ti­at­ing re­forms for greater rev­enue mo­bi­liza­tion and pri­vate sec­tor growth.

“I would like to par­tic­u­larly ac­knowl­edge and ap­pre­ci­ate the ef­forts of Min­is­ter Dar and the eco­nomic lead­er­ship team for their ef­forts in con­tin­u­ing re­form mo­men­tum”, Cholst said. This op­er­a­tion rec­og­nizes Pak­istan’s stepped up re­form ef­forts in the busi­ness en­vi­ron­ment, rev­enue gen­er­a­tion, State Owned En­ter­prises, debt man­age­ment and mak­ing pub­lic spend­ing more propoor, he added.

The World Bank Board which met on June22 and lauded Pak­istan for pur­su­ing a re­form agenda and sup­ported con­tin­u­a­tion of sup­port to the Gov­ern­ment in its en­deav­ours.

Board mem­bers ap­pre­ci­ated the progress made in the past three years by the Gov­ern­ment and high­lighted the fi­nan­cial innovation pre­sented by this op­er­a­tion through com­bin­ing IDA credit and IBRD Pol­icy Based Guar­an­tee.

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