PR No.205 Islamabad

Finance Minister Mohammad Ishaq Dar had a meeting with Country Director of World Bank for Pakistan, Patchamuthu Illangovan (Illango), and members of his team here today.

The Minister discussed with Mr. Illangovan, the progress of various economic reforms undertaken by the government. He said that having completed the home grown reform agenda with the assistance of the IMF, the government remains committed to continue with the reform agenda that it had promised in PML-N’s election manifesto in 2013. He said that the country was benefiting from the reforms carried out so far which had helped the country achieve macroeconomic stability. He said that the government would ensure that the process of reforms continues with the same zeal so as to achieve the objective of higher, inclusive and sustained economic growth.

The Finance Minister said that the new Companies law, is a part of the reform effort. The law has already been passed by the National Assembly and hoped that it will soon be passed by the Senate as well. Once enacted the law will go a long way in improving corporate governance & surveillance in the country in line with international best practices.

The Country Director stated that government’s commitment to reform was widely acknowledged. the World Bank will continue to support and assist the reforms in various sectors of economy as it has supported the process in the last many years.

Mr. Illangovan also on the occasion updated the Minister about the status of different World Bank sponsored/supported projects and said he was fully focused, as always on furthering Pak-WB economic cooperation.