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PM SHEHBAZ SHARIF WELCOMES HISTORIC $40B WORLD BANK INVESTMENT IN PAKISTAN
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PM HAILS INVESTMENT AS A MAJOR STEP IN FOSTERING ECONOMIC GROWTH, FOCUSING ON DEVELOPMENT IN KEY SECTORS LIKE HEALTH, EDUCATION, AND PRIVATE INDUSTRY PROFIT
NEWS DESK
RIME Minister Shehbaz Sharif has expressed gratitude for the World Bank’s decision to invest $40 billion in Pakistan, calling it a significant and promising development for the country. In a statement released by the Prime Minister’s Office Press Wing, the PM shared his appreciation during a meeting with a delegation of World Bank Executive Directors, who are currently visiting Pakistan. He emphasized the longstanding partnership between Pakistan and the World Bank, spanning more than 70 years. The Prime Minister highlighted several key projects supported by the Bank that have been integral to Pakistan’s development. Notably, the World Bank’s assistance during the 2022 floods was a critical lifeline to those affected. As part of the new Country Partnership Framework, the World Bank is set to invest $40 billion in Pakistan, which the PM regards as a major positive development. Of this amount, $20 billion will be allocated to initiatives in health, education, youth development, and other vital social sectors. This marks the start of a new era of progress for Pakistan. Furthermore, $20 billion will be directed towards the country’s private sector under the International Finance Corporation (IFC), a move expected to enhance economic growth. The PM expressed his appreciation for the World Bank’s confidence in Pakistan’s government policies. Prime Minister Shehbaz also pointed to the swift progress being made
in Pakistan’s institutional and economic reforms, which are guiding the nation’s economy in the right direction. While acknowledging that more work is needed for sustainable growth, he praised the efforts of those responsible for these improvements. The PM noted positive trends, such as rising exports and remittances, falling interest rates, increasing investment in the production sector, and the ongoing push for transparency to combat corruption. Reforms in the Federal Board of Revenue (FBR) and the energy sector are high on the government’s agenda to ensure uninterrupted power supply and reduce inefficiencies. He also mentioned the Special Investment Facilitation Council (SFIC), which has created an attractive investment environment by involving all key stakeholders. This demonstrates the government’s priority of fostering part-
nerships over relying on loans. The World Bank delegation praised the ongoing reforms in Pakistan, partic-
ularly in energy, industry, exports, privatization, and taxation, acknowledging the positive results being achieved. The World Bank delegation, consisting of nine Executive Directors, is in Pakistan to discuss potential economic development projects and investment opportunities. In addition, Pakistan is preparing for negotiations with the International Monetary Fund (IMF) for a $1.5 billion loan, which will be discussed during the IMF’s visit to the country later this month. The delegation will also review a combined loan amount of $2.5 billion, covering both the new programme and the next tranche of the previously approved $7 billion programme. Sources reveal that the IMF delegation will arrive on February 24 to negotiate the $1.5 billion concessional loan, which is expected to support the country’s efforts in addressing climate change-related damages.
WB delegation reaches Islamabad to review progress on $40b accord PROFIT INP
A delegation of the executive directors of the World Bank (WB) arrived here in Islamabad on Monday to review the progress on $40 billion development framework, aimed at helping Pakistan economically. The visiting delegation is scheduled to meet Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb and other federal ministers during their stay in Pakistan.
According to the Ministry of Finance, the WB delegation and the government would deliberate on effective implementation of funding worth $40 billion under the country partnership framework – which is to be doled out by the global lender over the course of a decade to Pakistan. The WB delegation which has come to Pakistan after almost ten years, will review the steps taken by the government and also visit all provinces to take input from the provincial governments.
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Senate passes bill to increase salaries and perks for parliamentarians ISLAMABAD
STAFF REPORT
The Senate has approved the Parliamentarians’ Salaries and Allowances (Amendment) Bill 2025, which will increase the salaries and perks of lawmakers. Despite some opposition, the bill was passed by a majority vote after a formal vote was conducted to address concerns from dissenting members. The bill, introduced by Senator Danesh Kumar, was passed unanimously, though Deputy Chairman Syedal Khan ordered the names of dissenting members to be recorded, signalling the contentious nature of the decision. Law Minister Azam Nazeer Tarar defended the salary hike, urging lawmakers to avoid politicising the issue. He suggested that members unwilling to accept the raise should submit a written declaration and pointed out that similar measures had been implemented at the provincial level. His remarks led to loud protests from the opposition, prompting an intervention by the Deputy Chairman to restore order in the Senate. In addition to the salary bill, other legislative matters faced mixed outcomes. The Income Tax Ordinance (Amendment) Bill 2025, presented by Senator Zeeshan Khanzada, was opposed by Minister of State for Finance Ali Pervaiz Malik. The State Bank of Pakistan (Amendment) Bill 2023, introduced by Senator Mohsin Aziz, sparked a debate, with Aziz insisting on its discussion in the Senate instead of being referred to a committee. Other bills, such as the Legal Practitioners & Bar Councils (Amendment) Bill 2025, were postponed due to the absence of Senator Farooq H Naek, while the University of Business Sciences & Technology Bill 2025 was referred to the relevant standing committee.