Govt lauds WB for Pakistan's socio-economic uplift

Federal Minister for Economic Affairs, Sardar Ayaz Sadiq here on Wednesday appreciated the World Bank (WB) for its decades-long assistance, which he said had played and would continue to play a vital role in the socio-economic uplift of Pakistan.

The minister was talking to Regional Director for the WB South Asia, Sustainable Development (SD), John A. Roome and Country Director WB, Najy Benhassine who called on him here.

Ayaz Sadiq appreciated WB for being one of the major development partners that extended substantial financial support of US$ 31.1 billion to Pakistan since the 1950s.

He also expressed gratitude to the World Bank for its flood relief assistance to Pakistan.

"We are well-supported by the

World Bank's team.'' said the Minister and highlighting that bank's interventions cover all major sectors of the economy including infrastructure, agriculture, rural and urban development, human capital, social service as well as economic growth.

The minister said the Ministry of Economic Affairs has now changed its role from just a facilitator in the signing of agreements to ensuring monitoring and fund utilization of projects in the most optimal way.

He apprised the Regional Director that the Ministry was monitoring the projects through continuous meetings of the National Coordination Committee on Foreign Funded Projects and Steering Committee for Coordination regarding International Assistance for Flood Relief Activities.

On the occasion, the Regional Director, Roome appreciated the facilitation and proactive role of the

Ministry of Economic Affairs.

He discussed the WB's pipeline projects for supporting post-flood rehabilitation and reconstruction activities, particularly in the province of Sindh and Balochistan, and highlighted the need to push forward the implementation of these projects through effective coordination with the provinces.

On the occasion, Secretary EAD assured complete assistance from the Ministry in pushing forward the delayed approvals and implementations of the projects.

He stated that the Ministry has categorized the projects into three categories including satisfactory, unsatisfactory and problematic, while Ministry's special focus is on the problematic projects.

He further apprised that the Ministry was working actively with the World Bank team in ensuring faster implementation of projects.