World Bank support critical for fiscal consolidation, says Tarin

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin said on Friday that continued support of the World Bank (WB) as a major development partner was critical to attaining fiscal consolidation, improved service delivery and good governance in Pakistan.

The minister was talking to Country Director of the World Bank Group (WBG) Najy Benhassine who made a courtesy call on the former here at the Finance Division.

The minister lauded the pivotal role being played by the World Bank in strengthening governance and service delivery through institutional reforms and human capital development in Pakistan over the years. He appreciated the swift and timely assistance extended by the WBG for stimulating economic recovery during the Covid-19 pandemic.

Mr Tarin reiterated the firm resolve of the government in achieving macro-economic stability and sustained economic growth by following a consultative process.

He apprised the country director that the first Economic Advisory Council (EAC) meeting had decided to work towards reinvigorating the productive sectors of the economy.

The EAC would facilitate sound economic planning by chalking out short-, medium- and long-term plans, with firm timelines, to set the course for an inclusive and sustained economic growth, he added.

On the occasion, the WBG country director felicitated the finance minister on assuming his new responsibility and thanked the government of Pakistan for continuous support and facilitation in completion of ongoing projects and programmes.

Meanwhile, Chairman of the Securities and Exchange Commission of Pakistan (SECP) Aamir Ali Khan on Friday updated Mr Tarin about recent steps being taken by the commission to facilitate businesses through digitization of regulatory processes and other such initiatives.

During a call-on meeting with the federal minister here at the Finance Division, the SECP chairman briefed him about working of the SECP as the financial regulatory agency to encourage investment and foster economic growth and prosperity in the country.

The federal minister appreciated the SECP and affirmed the resolve to extend full support for promoting an enabling business-friendly environment in the country, according to a press statement issued by the Finance Ministry.

Published in Dawn