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Ehsaas program is a unique and large-scale poverty alleviation and social protection program that is being acclaimed internationally - pakistannewsgazette.com

Ehsaas program is a unique and large-scale poverty alleviation and social protection program that is being acclaimed internationally

Islamabad, August 05, 2021 (PPI-OT):Ehsaas program is a unique and large-scale poverty alleviation and social protection program that is being acclaimed internationally. It is hoped that Kamyab Pakistan program will also be a program of the same quantum. Regional Vice President World Bank, South Asia Regional Vice President World Bank, South Asia Mr. Hartwig Schaefer called on Prime Minister Imran Khan in Islamabad.

The meeting was attended by Country Director World Bank Najay Benhassaine, Federal Ministers Shaukat Fayyaz Tareen, Omar Ayub Khan, Governor SBP Reza Baqir and other senior officials. Pakistan’s economic achievements, especially positive economic indicators and growth of 4% despite COVID, significant reduction in circular debt and a significant increase in exports were discussed in the meeting.

In addition, government’s initiatives, including focus on SDGs, loans for farmers and access to markets through infrastructure improvements, improvements in optical fiber communication systems that enabled the unhindered educational activities during lockdown, measures taken for the development of the people of the merged districts (Previously FATA), steps for prevention of environmental pollution including forest conservation, Billion Tree Tsunami and ban on coal-fired power plants were also discussed in detail.

In addition, due to the reforms introduced by the government, minimal increase in Pakistan’s debt-to-GDP ratio last year compared to the rest of the countries under the IMF program and the policy of inclusive growth was also discussed the meeting. The participants were also informed that instead of putting more burdens on the existing taxpayers, Pakistan is pursuing a policy of economic growth which will not only create employment opportunities but also increase the Tax revenue and individual income.

Mr. Hartwig Schaefer said that not only the World Bank but the whole world is appreciative of Pakistan’s Ehsaas Program for Poverty Alleviation and Social Security and it is being cited worldwide for its success and quantum. World Bank is working on a number of projects in Pakistan and is also interested in providing full support for such social security projects. Also commendable is the government’s economic reform and smart lockdown policy during COVID.

He further said that the World Bank and Pakistan will continue to work together for the prosperity and development of the people of the country. Prime Minister thanked World Bank for its cooperation with Pakistan in difficult times and said that one of the top priorities of the government was to provide protection to the economically marginalized sections of the society.

The Kamyab Pakistan project will be inaugurated soon which will provide loans to farmers on easy terms, affordable housing and ease of doing business. “Unfortunately, commodity prices have risen by 40 per cent worldwide at the moment, and the government is trying to provide relief by reducing the burden on the people,” he said. The government also considers economic development to provide employment to the youth of this country as its top priority.

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