Pakistan assures World Bank of reforming power sector

Oct 15

Finance

Pakistan assures World Bank of reforming power sector

ISLAMABAD: Pakistan on Thursday assured the World Bank of taking measures to reform the power sector in the country with special focus on reducing circular debt. Federal Minister for Finance and Revenue Shaukat Tarin held a meeting today with Axel van Trotsenburg, Managing Director World Bank and the Bank’s Pakistan team at the World Bank […]

by Anjum Shah

Unemployment, inflation key challenges for Pakistan: WB

Oct 7

Finance

Unemployment, inflation key challenges for Pakistan: WB

The World Bank (WB) has pointed out unemployment and food inflation as the major challenges for Pakistan’s economy. The World Bank issued a report Shifting Gears: Digitization and Services-Led Development on Thursday. “… downside risks arising from lockdown-induced disruptions to employment and high food inflation remain,” the World Bank said. It projected Pakistan’s output growth […]

by Anjum Shah

World Bank approves $442mn for improving access to water, sanitation services in Pakistan

Jun 19

Finance

World Bank approves $442mn for improving access to water, sanitation services in Pakistan

KARACHI: The Executive Board of the World Bank has approved a financing of $442 million to support Pakistan in improving access to water and sanitation services for the vulnerable rural communities in Punjab province, a statement on Saturday. It said that the Punjab Rural Sustainable Water Supply and Sanitation Project (PRSWSSP) will help upgrade water […]

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World Bank approves $153 million for Pakistan COVID vaccine drive

May 14

National

World Bank approves $153 million for Pakistan COVID vaccine drive

ISLAMABAD: The World Bank’s Board on Friday approved the restructuring of the Pandemic Response Effectiveness in Pakistan (PREP) project, originally approved in April 2020, to redeploy $153 million to support the ongoing national vaccine drive in Pakistan. These funds, redeployed at the request of the federal government, will help finance the purchase and deployment of […]

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World Bank, FBR discuss $400 million reform program

Apr 16

Taxation

World Bank, FBR discuss $400 million reform program

ISLAMABAD: The World Bank and Federal Board of Revenue (FBR) on Friday discussed reform program worth $400 million, which is aimed at automation of tax collection and simplification of tax compliance. A statement issued stated that the World Bank Country Director for Pakistan, Najy Benhassine called on Chairman FBR Mr. Asim Ahmad on Friday afternoon, […]

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Harmonizing general sales tax top priority: Hammad Azhar

Apr 6

Taxation

Harmonizing general sales tax top priority: Hammad Azhar

ISLAMABAD: Federal Minister for Finance, Revenue, Industries and Production, Mohammad Hammad Azhar on Tuesday said that harmonization of general sales tax is priority area of the government. Hammad Azhar, held a virtual meeting with Hartwig Schafer, Vice President South Asia Region, World Bank Group at the Finance Division. The federal and provincial tax authorities are […]

by Anjum Shah

FBR starts harmonizing Inland Revenue codes to simplify tax laws

Mar 3

Taxation

FBR starts harmonizing Inland Revenue codes to simplify tax laws

ISLAMABAD: Federal Board of Revenue (FBR) has started harmonizing Inland Revenue codes in order to simplify and consolidate the tax laws, sources said on Wednesday. The harmonization of IR codes has been started under World Bank funded ‘Pakistan Raises Revenue Project’. The FBR said that it had received financing from the World Bank towards the […]

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SBP governor to moderate dialogue on ‘banking on equity’ hosted by World Bank

Feb 21

Money & Banking

SBP governor to moderate dialogue on ‘banking on equity’ hosted by World Bank

KARACHI: The World bank is hosting a webinar on ‘Consultative Dialogue on the State Bank of Pakistan’s Gender Financial Inclusion Policy – Banking on Equality’ on Tuesday, February 23, 2021, a statement said on Sunday. During the webinar, Governor SBP, Dr. Reza Baqir will moderate a high profile international panel discussion. The State Bank of […]

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World Bank approves $300 million for two projects in Pakistan

Dec 9

Finance

World Bank approves $300 million for two projects in Pakistan

ISLAMABAD: The executive board of the World Bank has approved $300 million for financing two projects in Pakistan – the Sindh Resilience Project and the Solid Waste Emergency and Efficiency Project. These investments will bolster Pakistan’s efforts to build resilience to natural hazards such as floods and droughts in the Sindh province, and will strengthen […]

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Nov 10

Energy

Pakistan urgently needs solar, wind energy expansion to lower power cost: WB

ISLAMABAD: The World Bank (WB) on Tuesday launched a study suggesting that Pakistan should quickly implement a major scale-up of solar and wind generation. Variable Renewable Energy (VRE) Integration and Planning Study finds that Pakistan needs to urgently implement a major expansion of solar and wind, to achieve a share of at least 30 percent […]

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