Trust Fund for Accelerated Growth and Reforms established

ISLAMABAD: With a view to supporting government’s ongoing economic reform agenda, the preparatory meeting of the Steering Committee of Trust Fund for Accelerated Growth and Reforms was held at the Economic Affairs Division on Wednesday.
Secretary EAD, Saleem Sethi and Country Director, World Bank Rachid Benmessaoud co-chaired the meeting.The Trust Fund has initially been set up with a $51.3 million contribution from DFID, UK for an implementation period of about four years. However, it would function as a Multi-Donor Trust Fund to enable other donors to contribute to it.
At the outset it will have four implementing reform windows, based on four key reforms priorities of the government. Firstly, Energy Sector Reforms, secondly State-owned enterprises and Private sector Reforms, thirdly Tax reforms and fourthly Public Debt Management Reforms. A Secretariat would be established to assist the implementation.
The Trust Fund aims to fill knowledge gaps, strengthen the capacity of key institutions, complete the design and implement government’s reform agenda.Representatives of Ministry of Water & Power, Ministry of Petroleum & Natural Resources and FBR also attended the meeting.