WB’s Country Partnership Framework to bring $20b investment to Pakistan: PM Shehbaz

Prime Minister Shehbaz Sharif on Thursday said that the government was taking practical steps to achieve maximum benefits from the World Bank’s development investment.

The prime minister, in a meeting with a World Bank delegation led by Managing Director of Operations Anna Bjerde here, lauded the Bank’s key role as an important development partner in Pakistan’s progress. He expressed the hope that the World Bank’s Country Partnership Framework would bring more than $20 billion in development investment to Pakistan. 

The prime minister also appreciated the World Bank’s assistance to the victims of 2022 floods in Pakistan that had impacted millions of people, destroying livelihoods and properties. In her remarks, World Bank Managing Director Anna Bjerde said that the World Bank valued its historic partnership with the Government of Pakistan for the development and prosperity of its people.

She also expressed special gratitude to Prime Minister Shehbaz for his effective role in strengthening the partnership and implementing the Country Partnership Program. Also appreciating Pakistan’s recent exemplary economic performance and stability, she said that through its positive actions for macroeconomic stability, Pakistan had achieved the impossible. She said that the World Bank looked forward to continued cooperation to achieve the positive outcomes of the Country Partnership Framework. 

The managing director viewed that the prime minister’s leadership, his commitment to the uplift of the Pakistani people, policy continuity for sustainable and inclusive growth, and efforts to engage all stakeholders at the political level, made Pakistan a model for the World Bank’s partnership framework in other countries. She said that due to the prime minister’s excellent and effective leadership, the Country Partnership Framework was being referred to globally as the “Pakistan Model”.

She expressed the hope that Prime Minister Shehbaz’s focus on practical actions would lead this partnership framework to success. The meeting was also attended by World Bank’s Country Director for Pakistan Najy Benhassine, as well as federal ministers Ahsan Iqbal, Ahad Khan Cheema, and Shaza Fatima Khawaja, Prime Minister’s Advisor Dr. Tauqir Shah, Senator Sherry Rehman, Member of National Assembly Dr. Nafisa Shah, and other senior officials. 

Meanwhile, Prime Minister Shehbaz Sharif on Thursday called for further reforms in the gas sector to gradually reduce and eliminate the volume of circular debt through further reforms in the gas sector.

The prime minister made these remarks while chairing a review meeting regarding gas supply and consumption in the country. The Prime Minister was presented with a long-term comprehensive plan on gas supply and consumption in the country during the meeting.

PM Shehbaz expressed satisfaction over the establishment of various blocks to increase domestic gas production and discover new reserves. He underlined that the energy sector reforms were the top priority of the government.

The Prime Minister was also briefed on the financial stability of the gas sector, long-term planning and improvement of the governance system.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervez Malik, Sardar Owais Khan Leghari, Advisor to the Prime Minister Muhammad Ali, Minister of State Bilal Azhar Kayani and relevant senior officials. Earlier, Governor of Punjab Sardar Saleem Haider Khan on Thursday called on Prime Minister Shehbaz Sharif and congratulated him on the success of Bunyanum Marsoos operation, lauding his leadership for effective decision-making during Marka-e-Haq. 

During the meeting, the matters related to Punjab province as well as the overall political situation were discussed, according to a PM Office press release. Advisor to PM on Political Affairs Rana Sanaullah, Federal Minister for Public Affairs Unit Rana Mubashir Iqbal and Punjab Assembly Speaker Malik Ahmed Khan also attended the meeting.