World Bank to conduct Pakistan's economy review on February 3-8

RECORDER REPORT
ISLAMABAD (January 26 2008): The World Bank (WB) will review Pakistan's economy, particularly the taxation reforms vis-à-vis recent economic developments. Sources told Business Recorder on Friday that Emesto May, Sector Director, Poverty Reduction and Economic Management, Finance and Private Sector Development, South Asia Region, will visit Pakistan from February 3 to 8 on operational trip.

He will hold meetings with relevant government officials for an update on recent economic developments. Satu Kahkonen, Lead Economist, is also on her visit to Pakistan. During her visit, she will discuss the recent macro-economic developments and get an update on PRSP 2 and PRSP 3. She will also join May in the February 3-8 meetings.

One important meeting of WB experts would be held with FBR Chairman Abdullah Yusaf on the issues of tax policy and on-going revamping of the tax machinery.

The top WB economist would also meet Khalid Mirza, Chairman of Competition Commission of Pakistan, to have an update on organisational strengthening of the Commission.

It is important to mention that the WB in its recent report 'Global Economic Prospects 2008' has highlighted that Pakistan would miss its annual GDP growth target of 7.2 percent as the growth would be around 6.5 percent by the end of 2007-08. The WB experts would start meeting with Finance Secretary Dr Waqar Masood Khan. The agenda of the meeting would be recent macroeconomic developments, and update on PRSP 3 and PRSP 2.

They would also meet Sakib Shirani, ABN Amro Bank Chief Economist and Oracle Corporation Regional Manager Samina Rizwan to discuss recent macroeconomic indicators. The WB officials' meeting with State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar and Zubair Soomro of Citibank Karachi would also focus on recent macroeconomic developments.

On the same topic, they would also meet Dr Haris Gazdar, Director Collective for Social Science Research; Shahid Kardar, Systems (Pvt) Ltd; Dr Akmal Hussain, Managing Director of Sayyed Engineers Pvt Ltd; Dr Anjum Naseem Lahore University of Management Sciences (LUMS) and Dr Ali Cheema, Lahore University of Management Sciences (LUMS).

The recent macroeconomic developments would also be discussed with Dr Salman Shah, Minister for Finance, Dr Waqar Masood Khan, Secretary Finance and Dr Akram Sheikh, Deputy Chairman of Planning Commission. A meeting with Dr Ishrat Hussain, Chairman of National Commission for Government Reforms is also on the cards to discuss reforms in different departments, sources added.


Copyright Business Recorder, 2008