Pakistan finance minister reiterates resolve to achieve macroeconomic stability

By: News Desk      Published: 11:33 PM, 20 Apr, 2021
Pakistan finance minister reiterates resolve to achieve macroeconomic stability
Federal Finance Minister Shaukat Tarin and others in a virtual meeting with World Bank Managing Director (Operations) Axel van Trotsenburg.

Federal Finance Minister  Shaukat Fayyaz Ahmad Tarin on Tuesday reiterated the government’s resolve to bring in reforms to achieve macroeconomic stability, build fiscal resilience and stimulate economic recovery amid and post Covid-19 scenarios.

The minister during a virtual meeting with Managing Director (Operations), World Bank, Axel van Trotsenburg, shared a brief overview of the current economic situation and outlined several initiatives taken to accelerate economic recovery during the Covid-19 pandemic.

Among others, Federal Minister for Economic, Affairs Division Omar Ayub Khan; Minister for Power Muhammad, Hammad Azhar; SAPM on Power, Tabish Gauhar; SAPM on Revenue, Dr Waqar Masood; Secretary Finance Division, Secretary Power, Secretary Economic Affairs Division, Chairman FBR and other senior officers of the Finance Division participated in the meeting.

Governor State Bank of Pakistan Reza Baqir joined through a video link, according to a statement issued by the Finance Ministry. Pakistan converted the Current Account Deficit into surplus by adhering to a strict financial discipline, he said and highlighted measures to be taken for effective resource mobilization, enhancing productivity and strengthening financial management in future.

He said the World Bank had always been a source of support in pursuing reform agenda and implementing various development projects for the country. He thanked the Managing Director (Operations), World Bank (WB) and his team for their continuous support and facilitation.

He acknowledged the longstanding partnership and firm commitment of the World Bank as a major development partner for bringing essential reforms in priority areas including energy, fiscal and debt management and socio-economic development. Minister for Energy Muhammad Hammad Azhar briefed about the efforts underway in the energy sector for bringing efficiency into the system by eliminating inefficient power plants to improve service delivery.

Reporter: Waqas Azeem