The World Bank approves a loan of 350 million dollars for Pakistan

The World Bank approved a loan of 350 million dollars for Pakistan.

The World Bank has approved the loan for Pakistan under the Rise to Program.

World Bank Country Director Naji Benhesen said the Rise to Program completes the first phase of tax, energy, business and climate reforms.

He said that the Rise to Program is designed to increase revenues, this program is designed to improve expenditure targeting, promote competitiveness and investment, the program will also help in better management of Pakistan’s power sector.

In this regard, the World Bank says that the purpose of approving this loan for Pakistan is to promote competitiveness for financial management, sustainable and comprehensive economic development.

According to the World Bank, the objective of the project is to promote sustainable economic growth by improving financial management, Pakistan needs urgent financial and structural reforms.

The World Bank says the loan will bring coordination in fiscal policy and transparency in lending, strengthening taxes in the property sector is part of the plan.

The World Bank has said that tax laws will reduce implementation costs and encourage digital payments, boosting exports by reducing import tariffs.

The World Bank also says that Pakistan has an opportunity to solve long-standing structural problems after the elections, if this opportunity is missed, there is a risk of Pakistan falling into economic problems again.