Pakistan takes India to World Bank over IWT violation

Pakistan takes India to World Bank over IWT violation

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

Miftah met with 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 World Bank 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, the Finance Division said in a 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 advisor 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 advisor along with the Chairman BOI 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.