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ISLAMABAD: The president of the World Bank Group, David R. Malpass, said Thursday that the reforms carried out by Pakistan to facilitate business would help create jobs, attract investments and generate more tax revenue.<\/p>\n
Malpass recognized the efforts made by the government to improve its ranking in the Ease of Doing Business index.<\/p>\n
\u201cHis country jumped to position 108 of 136 last year. Its reforms made it easier for entrepreneurs to start businesses, obtain electricity and construction permits, register properties, pay taxes and trade across the border, \u201dhe said at the exhibition held to celebrate the 28-point jump of the country in the classification of the facility. to do business<\/p>\n
He said Pakistan could further facilitate business by improving its judicial procedures, training and empowerment of women. He also called for greater digitalization of procedures and stressed the importance of transparency in reforms to gain investor confidence.<\/p>\n
The World Bank will work hard for Pakistan to succeed, as the country has the potential to carry out more reforms and meet the challenges, he added.<\/p>\n
Prime Minister Imran Khan, while speaking at the event, also informed the visiting delegation that the government is committed to strengthening the economy, ensuring transparency and good governance through institutional reforms, fiscal reforms and socio-economic development of the marginalized sectors of society.<\/p>\n
He added that the ease of doing business, broadening the tax base, mobilization of internal resources, attracting foreign investments and financial reforms are the main priority of the government.<\/p>\n
He said the government had launched several initiatives aimed at the welfare of youth, poverty alleviation and housing sectors that would ultimately result in economic development.<\/p>\n
The prime minister also emphasized his economic team to start over by eliminating the old mentality of resisting the creation of wealth in the country.<\/p>\n
He said the future belonged to the creation of wealth that allowed the government to collect more taxes and spend on public welfare.<\/p>\n
The government wants to industrialize and alleviate poverty through increased tax and expense collection to raise people's living standards, he added.<\/p>\n
The Prime Minister also thanked the World Bank for financial and technical support to the country.<\/p>\n
On the other hand, the president of BM Malpass also praised the prime minister for personally leading several emblematic government programs.<\/p>\n
He also recognized the government's efforts towards economic change, reducing expenses and initiating reforms in critical sectors of the economy.<\/p>\n
The Prime Minister on Trade, Industry and Investment's advisor, Abdul Razak Dawood, said that improving the country's classification in "Ease of doing business" will attract foreign investment.<\/p>\n
He also added that the improvement was an unprecedented leap in the country's business environment and increased investment.<\/p>\n
Later, a round table conference discussed issues related to the energy sector and the reform of the country's fiscal regime.<\/p>\n
The prime minister's financial advisor, Dr. Abdul Hafeez Sheikh, gave an overview of the achievements made by the government over the past year.<\/p>\n
He said there was considerable progress in exports, which contained fiscal and current account deficits, revenue collection, expenditure restrictions and exchange rate stabilization.<\/p>\n
The Minister of Economic Affairs, Hammad Azhar, highlighted the general agenda of government reforms for economic change.<\/p>\n
The Minister of Energy, Omar Ayub Khan, and the assistant to the Prime Minister of Energy, Nadeem Babar, shared the government's strategy to overcome problems related to the energy sector, including circular debt and efforts to diversify the combination energy with a greater dependence on alternative and renewable energy resources.<\/p>\n
In a separate visit to the Tarbela dam, President Malpass also expressed his satisfaction at the completion of the 4th Extension Hydroelectric Project, and noted that "the work on the project is impressive."<\/p>\n
"I am happy to complete the project on time and at a lower cost than estimated," he said in an information session after visiting the Tarbela Dam Project.<\/p>\n
Published on Dawn, November 1, 2019<\/em><\/p>\n<\/p><\/div>\n<\/pre>\n<\/pre>\n Source: https:\/\/www.dawn.com\/news\/1514161\/wb-president-urges-focus-on-reforms-for-jobs-growth<\/p>\n","protected":false},"excerpt":{"rendered":" ISLAMABAD: A delegation from the World Bank Group led by its president David Malpass meets with Prime Minister Imran Khan. – APP ISLAMABAD: The president of the World Bank Group, David R. Malpass, said Thursday that the reforms carried out by Pakistan to facilitate business would help create jobs, attract investments and generate more tax […]<\/p>\n","protected":false},"author":1,"featured_media":11281,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[11077],"tags":[],"class_list":["post-11280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newspaper"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/11280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=11280"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/11280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=11280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=11280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=11280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}