Prime Minister's Adviser on Finance Meets World Bank Team

Washington: July 26: Adviser to the Prime Minister on Finance Dr. Salman Shah met the Acting President of the World Bank, Mr. Graham Wheeler, here today, and briefed the World Bank team on the economic performance of Pakistan. Macro indicators of the Pakistan's economy, like GDP growth, declining of public debt to GDP ratio, declining inflation and balance of payment surpluses were also discussed. GDR issues of OGDC, that will be listed on London Stock Exchange came under discussion as well.

The World Bank team appreciated Pakistan's significant progress and consistency in economic and fiscal policies. The World Bank team assured total support for the development of Pakistan which was reflected in the country's program for the next three years pitched at $6.5 billions. World Bank Acting President assured that the World Bank would assist Pakistan in the efficient implementation of the enhanced World Bank program in Pakistan. The new World Bank country team consisting of outstanding professionals is being selected which will be in place before the end of this year, added the World Bank Acting President.

The Pakistan delegation and the World Bank team also discussed National and Transport Corridor projects and the Indus River Water and Storage Reservoir Projects. The Bank report on the framework for the Indus River Waters Development will be presented to the government of Pakistan by the World Bank Mission that will visit Pakistan shortly.

The Acting President, World Bank was assisted by the Vice President South Asia, Director for Asia and Country Director for Pakistan, Mr. John Wall. Pakistan Ambassador Mahmud Ali Durrani was also present in the meeting.

Washinton July 26, 2006