Miftah draws WB attention to India’s non-adherence to IWT

ISLAMABAD: Adviser to Prime Minister on Finance Miftah Ismail Revenue and Economic Affairs on Saturday conveyed Pakistan’s concerns to the World Bank (WB) over India's non-adherence to the Indus Waters Treaty (IWT).

According to the Finance Division statement, Miftah met Managing Director World Bank Kristalina Georgieva in Washington, and drew her attention to disputes between Pakistan and India over the construction of hydropower projects requesting the WB to play its role under the IWT.

The Pakistani delegation, led by Miftah Ismail and comprising State Bank governor and Economic Affairs Division secretary, participated in the World Bank spring meetings 2018 and attended a number of bilateral meetings on the sidelines, added the Finance Division statement.

Miftah also discussed WB’s portfolio with in Pakistan as well as the future pipeline. He briefed the MD about Pakistan’s economic performance over the past few years. He pointed out that Pakistan was set to achieve high GDP growth rate during the current year again and was hoping to maintain this momentum in the coming years due to robust performance of the real sector of the economy.

The finance adviser also drew her attention to improvement in the country’s exports resulting from various policy initiatives implemented by the government.

Georgieva appreciated reforms implemented by Pakistan and assured the Bank’s support in carrying forward the country’s development agenda with a focus on SMEs, new business start-ups, agribusiness and greater regional connectivity, the statement added.

The adviser along with the BOI chairman met with the World Bank’s Ease of Doing Business team led by the acting chief economist and apprised them of seventy-five reforms implemented by the government to improve business and investment environment in Pakistan.

He also met with a large delegation of the US multinationals, members of the US-Pakistan Business Council, at the US Chamber and invited them to take advantage of investment opportunities available in Pakistan.

In addition, Miftah participated in a dinner hosted by Bill Gates, co-chair Bill and Melinda Gates Foundation, for finance ministers of various developing countries. The meeting held deliberations focused on health financing initiatives in developing countries.