Latest news with #Bjerde
Business Recorder
25-05-2025
- Business
- Business Recorder
Reforms key to recovery, poverty reduction for Pakistan: World Bank
ISLAMABAD: Pakistan's path to sustainable economic recovery and poverty alleviation rests on comprehensive reforms that prioritise human capital, macroeconomic stability, climate resilience, sustainable energy, and private sector growth. This was stated by the World Bank Managing Director for Operations, Anna Bjerde, at the conclusion of a two-day visit to Pakistan. She commended the authorities for the reform momentum and stressed the need for continuity in implementation to sustain economic stability and to elicit a stronger investment and growth response by the private sector. Pakistan's economic turnaround wins global recognition: World Bank Anna Bjerde met with Prime Minister Shehbaz Sharif and expressed her appreciation for the collaboration on the new 10-year World Bank Group Country Partnership Framework with Pakistan. They also discussed the need for coordinated reforms at the federal and provincial levels to ensure sustained and inclusive growth. The World Bank official said, 'during my visit, we discussed the next steps on the reform agenda of the government, especially in the fiscal, digital, and energy sectors, as well as the potential of the country in terms of private-led growth and entrepreneurship, particularly to create quality jobs for women and youth.' She also met the Minister of Economic Affairs and Governor of the World Bank Group, Ahad Khan Cheema; the Minister of Finance and Revenue, Muhammad Aurangzeb; the Minister for Planning, Development and Special Initiatives, Ahsan Iqbal; the Minister of Energy (Power Division), Sardar Awais Laghari; the Minister for Poverty Alleviation and Social Safety, Syed Imran Ahmad Shah; the Chairperson Benazir Income Support Programme, Rubina Khalid; the Chairman Federal Board of Revenue, Rashid Mahmood Langrial; as well as members of the National Assembly, the Senate, women leaders and other senior government representatives. The discussions focused on implementing the Country Partnership Framework to help address the most critical socio-economic challenges of the country, in terms of human capital development, particularly for women and girls, access to water and sanitation, climate resilience, and natural disaster risk reduction, and the foundations of private-led growth and job creation. Bjerde had the opportunity to visit the World Bank-supported project sites in Shaheed Benazirabad District in Sindh, where she was accompanied by Chief Minister Sindh, Murad Ali Shah, and Sindh Minister of Health, Dr Azra Fazal Pechuho. She and the World Bank delegation were hosted by the First Lady of Pakistan and member of National Assembly, Aseefa Bhutto Zardari. The visit included meetings with beneficiaries and staff of the 2022 Sindh Flood Emergency Housing Reconstruction Project, as well as an exchange with the medical staff and female patients of a Basic Health Unit supported by the National Health Support Programme. While in Sindh, Bjerde exchanged with Chief Minister Shah and members of his Cabinet on ongoing and planned projects to support the development of the province. Copyright Business Recorder, 2025
Express Tribune
24-05-2025
- Business
- Express Tribune
World Bank urges reform continuity
Listen to article World Bank Managing Director for Operations, Anna Bjerde, concluded a two-day visit to Pakistan yesterday and discussed coordination for economic reform between Pakistan and the World Bank. During her visit, she commended the authorities for the reform momentum and stressed the need for continuity in implementation to sustain economic stability and elicit a stronger investment and growth response by the private sector, said a release issued here. Bjerde met with Prime Minister Mian Muhammad Shehbaz Sharif and expressed appreciation for the collaboration on the new 10-year World Bank Group Country Partnership Framework with Pakistan. They also discussed the need for coordinated reforms at the federal and provincial levels to ensure sustained and inclusive growth. "Pakistan's path to sustainable economic recovery and poverty alleviation rests on comprehensive reforms that prioritise human capital, macroeconomic stability, climate resilience, sustainable energy and private sector growth," said Bjerde. "During my visit, we discussed the next steps on the reform agenda of the government, especially in the fiscal, digital, and energy sectors, as well as the potential of the country in terms of private-led growth and entrepreneurship, particularly to create quality jobs for women and youth." Bjerde also met the Minister of Economic Affairs and Governor of the World Bank Group, Ahad Khan Cheema; Minister of Finance and Revenue, Muhammad Aurangzeb; Minister for Planning, Development and Special Initiatives, Ahsan Iqbal; Minister of Energy (Power Division), Sardar Awais Laghari; Minister for Poverty Alleviation and Social Safety, Syed Imran Ahmad Shah; Chairperson Benazir Income Support Programme, Rubina Khalid; Chairman Federal Board of Revenue, Rashid Mahmood Langrial; and other senior representatives. Discussions focused on implementing the Country Partnership Framework to address Pakistan's most critical socio-economic challenges, particularly for women and girls, including access to water, climate resilience, and private-sector job creation. In Sindh, she visited World Bank-supported project sites in Shaheed Benazirabad District with Chief Minister Murad Ali Shah and Health Minister Dr Azra Fazal Pechuho, and was hosted by First Lady and MNA Aseefa Bhutto Zardari.
Business Recorder
24-05-2025
- Business
- Business Recorder
Reforms key to recovery, poverty reduction: WB
ISLAMABAD: Pakistan's path to sustainable economic recovery and poverty alleviation rests on comprehensive reforms that prioritise human capital, macroeconomic stability, climate resilience, sustainable energy, and private sector growth. This was stated by the World Bank Managing Director for Operations, Anna Bjerde, at the conclusion of a two-day visit to Pakistan. She commended the authorities for the reform momentum and stressed the need for continuity in implementation to sustain economic stability and to elicit a stronger investment and growth response by the private sector. Pakistan's economic turnaround wins global recognition: World Bank Anna Bjerde met with Prime Minister Shehbaz Sharif and expressed her appreciation for the collaboration on the new 10-year World Bank Group Country Partnership Framework with Pakistan. They also discussed the need for coordinated reforms at the federal and provincial levels to ensure sustained and inclusive growth. The World Bank official said, 'during my visit, we discussed the next steps on the reform agenda of the government, especially in the fiscal, digital, and energy sectors, as well as the potential of the country in terms of private-led growth and entrepreneurship, particularly to create quality jobs for women and youth.' She also met the Minister of Economic Affairs and Governor of the World Bank Group, Ahad Khan Cheema; the Minister of Finance and Revenue, Muhammad Aurangzeb; the Minister for Planning, Development and Special Initiatives, Ahsan Iqbal; the Minister of Energy (Power Division), Sardar Awais Laghari; the Minister for Poverty Alleviation and Social Safety, Syed Imran Ahmad Shah; the Chairperson Benazir Income Support Programme, Rubina Khalid; the Chairman Federal Board of Revenue, Rashid Mahmood Langrial; as well as members of the National Assembly, the Senate, women leaders and other senior government representatives. The discussions focused on implementing the Country Partnership Framework to help address the most critical socio-economic challenges of the country, in terms of human capital development, particularly for women and girls, access to water and sanitation, climate resilience, and natural disaster risk reduction, and the foundations of private-led growth and job creation. Bjerde had the opportunity to visit the World Bank-supported project sites in Shaheed Benazirabad District in Sindh, where she was accompanied by Chief Minister Sindh, Murad Ali Shah, and Sindh Minister of Health, Dr Azra Fazal Pechuho. She and the World Bank delegation were hosted by First Lady of Pakistan and member of National Assembly, Aseefa Bhutto Zardari. The visit included meetings with beneficiaries and staff of the 2022 Sindh Flood Emergency Housing Reconstruction Project, as well as an exchange with the medical staff and female patients of a Basic Health Unit supported by the National Health Support Programme. While in Sindh, Bjerde exchanged with Chief Minister Shah and members of his Cabinet on ongoing and planned projects to support the development of the province. Copyright Business Recorder, 2025
Business Recorder
23-05-2025
- Business
- Business Recorder
Awais shares power sector reforms, plans with World Bank
ISLAMABAD: Federal Minister for Power, Sardar Awais Ahmad Khan Leghari on Thursday shared power sector reforms and future plans with delegation led by Anna Bjerde, Managing Director Operations of the World Bank. During the meeting, the minister shared that Pakistan is set to introduce a competitive electricity market in the near future. All preparatory work for this transition is being completed. He noted that an Independent System and Market Operator (ISMO) has been established to manage the market operations, and experienced professionals are being appointed to ensure its effective functioning. The government will no longer act as the sole purchaser of electricity. Highlighting key financial reforms in the power sector, the minister informed the delegation that there has been a significant improvement in revenue recovery. He emphasised the importance of ensuring that electricity subsidies are directed only to those who truly need them and requested the World Bank's support in implementing targeted subsidy mechanisms. Bjerde endorsed the minister's approach, affirming that the World Bank fully supports the idea of better targeted subsidies and is committed to assisting Pakistan's power sector in this regard. The minister also pointed out that Pakistan currently has a surplus of approximately 7,000 megawatts of electricity. He proposed that providing this excess power to industries, even at marginal rates would make it the cheapest industrial electricity in the region. He stressed the need for support from the World Bank and other development partners to capitalise on this opportunity, which could significantly boost industrial production in the country. Bjerde agreed with the proposal, noting that utilising surplus electricity at marginal cost is far more beneficial than allowing it to go unused. The minister mentioned that during the winter season, electricity was already supplied at these lower rates without any subsidy, and the goal now is to extend this model throughout the year. He added that the power sector is moving towards the implementation of digital and smart systems from the feeder to the transformer level, and emphasised the crucial role of World Bank support in this digital transformation. The delegation was also briefed on the ongoing privatisation efforts in the power sector. The minister shared that the privatisation process for three electricity distribution companies is currently underway and is expected to be concluded by the end of this year. He also discussed broader restructuring efforts within the sector, highlighting that procurement and tendering systems have been upgraded to meet international standards, enhancing transparency and merit. Additional measures have been introduced to expedite the completion of ongoing projects. Copyright Business Recorder, 2025
Business Recorder
23-05-2025
- Business
- Business Recorder
Pakistan's economic turnaround wins global recognition: World Bank
ISLAMABAD: Pakistan's recent economic turnaround is being seen as a 'globally recognised model' of reform, World Bank Managing Director of Operations Anna Bjerde said on Thursday, praising Prime Minister Shehbaz Sharif's leadership for 'turning the impossible into possible.' Bjerde, who is visiting Islamabad with a senior World Bank delegation, made the remarks during a high-level meeting with Prime Minister Sharif. She applauded the Sharif administration's commitment to sustainable policy-making, political consensus, and a people-first development agenda. 'Due to the Prime Minister Sharif's remarkable and effective leadership, the Country Partnership Framework is now being referred to globally as the 'Pakistan Model',' Bjerde said. Pakistan's GDP grows 2.4% in Jan-Mar: NAC 'We're hopeful that his focus on practical implementation will ensure the framework's continued success. This is more than just policy – it's performance,' she added. In a political climate often marked by division, Bjerde noted Sharif's ability to unify stakeholders and prioritise national development as a standout quality. She described the World Bank's partnership with Pakistan as not just valuable, but exemplary. Prime Minister Sharif, in turn, welcomed the delegation and returned the praise with his characteristic warmth. 'We are grateful to the World Bank for the Country Partnership, which will result in over $20 billion in development investment in Pakistan,' he said, underscoring the government's efforts to ensure that every dollar translates into tangible improvements on the ground. Sharif also reflected on the 2022 floods, which ravaged communities across Pakistan. 'Millions were affected, livelihoods were lost, and properties destroyed – but the World Bank stood by us,' he said, acknowledging the bank's swift response during the crisis. Following the meeting, Bjerde expressed appreciation for the Prime Minister Sharif's hospitality and reaffirmed the bank's long-standing commitment to Pakistan's development. 'The World Bank highly values the historic partnership between the Government of Pakistan and the World Bank Group,' she noted. 'We're especially thankful for the Prime Minister's effective role in strengthening that partnership and making it a model for others.' Also present at the meeting were World Bank Country Director Najy Binhassine, Federal Ministers, Ahsan Iqbal, Ahad Cheema, Shaza Fatima Khawaja, PM's Advisor Dr Tauqir Shah, Senator Sherry Rehman, MNA Dr Nafisa Shah, and other senior officials. Copyright Business Recorder, 2025
