Govt cre­at­ing ideal busi­ness en­vi­ron­ment for pri­vate sec­tor

The Pak Banker - - FRONT PAGE -

IS­LAM­ABAD: Prime Min­is­ter Nawaz Sharif on Tues­day said his govern­ment be­lieved in lib­eral and pri­vate sec­tor-driven econ­omy and was cre­at­ing an ideal busi­ness en­vi­ron­ment for the pri­vate sec­tor. Talk­ing to Dr. Jim Yong Kim, Pres­i­dent World Bank here at the PM House, the Prime Min­is­ter said when pri­vate sec­tor is ad­e­quately fa­cil­i­tated, the busi­ness ben­e­fits reach to the en­tire coun­try. The Prime Min­is­ter said when the gov­ern­ments start do­ing busi­nesses, then huge losses in the shape of sub­si­dies are in­curred. He ap­pre­ci­ated the sup­port of World Bank in Pak­istan's eco­nomic growth and re­sum­ing pol­icy lend­ing af­ter the as­sump­tion of of­fice by the present govern­ment. He said the pol­icy-based loans would go a long way in help­ing the govern­ment im­ple­ment its re­form agenda and fur­ther im­prove the busi­ness en­vi­ron­ment. Sharif said the govern­ment was mak­ing all-out ef­forts to bring im­prove­ments in ev­ery sec­tor of the econ­omy in­clud­ing de­vel­op­ment of megahy­dropower projects, rail and road in­fra­struc­ture, education and health.

He said the as­sis­tance of World Bank for Dasu Hy­dropower Pro­ject and Tar­be­laIV Ex­ten­sion Pro­ject which would help the govern­ment in im­prov­ing the en­ergy mix and re­duce de­pen­dence on ex­pen­sive fu­els. Dr. Jim Yong Kim ex­pressed full sup­port for the govern­ment's tough eco­nomic de­ci­sions and said that WB sup­ports the struc­tural re­form agenda. "I re­call my first meet­ing with you where I had shared my con­cern about Pak­istan's se­cu­rity, en­ergy and macroe­co­nomic sta­bil­ity,"Kim told the Prime Min­is­ter and added that, "Let me state that un­der your lead­er­ship, Pak­istan has wit­nessed phe­nom­e­nal im­prove­ments in all three sec­tors and we sup­port your en­deav­ours." Dr. Jim Yong Kim lauded the eco­nomic poli­cies of the present govern­ment and said that Pak­istan's eco­nomic out­look had be­come sta­ble in re­sult of the ar­dent ef­forts of the coun­try's fi­nan­cial team. He said Pak­istan was now on the path of in­creased eco­nomic growth and pros­per­ity. The Pres­i­dent of World Bank said the coun­try's im­por­tant strate­gic lo­ca­tion be­tween the world's two largest con­sumers mar­kets of­fers unique op­por­tu­ni­ties to Pak­istan for fur­ther eco­nomic de­vel­op­ment. Dr. Jim Yong Kim ad­mired the govern­ment's projects aimed at achiev­ing bet­ter re­gional con­nec­tiv­ity and co­op­er­a­tion. The del­e­ga­tion in­cluded Ms. An­nette Dixon, Vice Pres­i­dent South Asia Re­gion; Dim­itris Tsit­sir­a­gos, Vice Pres­i­dent Global Client Ser­vices IFC; Jann Wal­liser, Vice Pres­i­dent Eq­ui­table Growth and Patchamuthu Il­lan­go­van, Coun­try Di­rec­tor for Pak­istan.

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