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Friday, July 16, 2010

World Bank assures Hafeez Sheikh of continued support to Pak economy

ISLAMABAD, July 16: The World Bank Vice President for South AsiaRegion Ms Isabel Guerrero has appreciated signs of improvement in Pakistan'seconomy.During meeting with Finance Minister Abdul Hafeez Shaikh here on Friday, MsIsabel said the World Bank would provide all possible assistance to Pakistanin facing the economic challenges. She said that Pakistan's economy has thepotential to grow and the World Bank wants to see Pakistan moving on thepath of development with a vibrant economy.Finance Minister Abdul Hafeez Shaikh while talking to the delegation saidthe World Bank has played a crucial role in economic development of Pakistanand we expect that this relationship will continue future as well.While giving an overview of Pakistan's economy, Dr. Hafeez Sheikhhighlighted the challenges being faced by the national economy, likeinflationary pressure, energy deficit and circular debt. Nevertheless, hesaid, the present government has taken measures to counter these challenges.For example, in order to maintain macro-economic stability, policies offiscal, debt reduction and reducing inflation to single digit are beingfollowed. Similarly, for the process of growth acceleration, the governmenthas introduced structural reforms, productivity and efficiency enhancementprocess, improvement in governance and encouraging private investment, headded.Earlier, the World Bank delegation was briefed about the state of Pakistan'seconomy by the senior officials of Ministry of Finance and Economic AffairsDivision.The meeting was also attended by Minister of State for Finance, Ms. HinaRabbani Khar and Deputy Chairman, Planning Commission, Dr. Nadeemul Haq.

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