Islamabad: The Central Development Working Party (CDWP) on Monday approved a proposal to obtain foreign loans worth USD 250 million for trade and investment reforms — under the auspices of the ‘Pakistan Goes Global’ programme, according to a news source.
This programme will be funded by the World Bank through loans worth USD 200 – 250 billion, which will be granted once the proposal is approved. These loans will then be used to introduce trade and investment reforms, with the aim to significantly improve Pakistan’s macroeconomic indicators.
The CDWP was headed by Planning Commission Deputy Chairman Jehanzeb Khan, who also approved the proposal to increase the Diamer-Bhasha Dam’s land acquisition fund by nearly 70% — to PKR 170.8 billion.
This body has the mandate to approve projects worth up to PKR 10 billion, with any projects costing more to be referred to the Executive Committee of National Economic Council (ECNEC) for approval.
