Islamabad: The government will formally seek help from the World Bank (WB) in order to boost investment in the country, a news source reported. Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, said that the government aims to improve the business environment through this step.
Dawood released an official statement after meeting with WB Country Director Patchamuthu Illangovan. He stated that WB is responsible for playing an important role in Pakistan’s development initiatives.
The delegation from the WB lauded the current government’s commitment towards promoting ease of doing business, and establishing a friendly environment for Foreign Direct Investment (FDI). The WB officials stated that given the current initiative launched for introducing business-friendly policies, Pakistan may become more competitive in the region.
Additionally, the WB and the International Panel of Experts (IPOE) have expressed their satisfaction over the progress achieved by the Tarbela 4th Extension Hydropower Project. This project was commissioned under a phased programme in 2018. As such, the delegates appreciated its successful completion and operation. According to reports, the extension project showcased more efficiency than what was initially recorded during model testing.
