ISLAMABAD - World Bank Country Director Rachid Benmessauod on Monday met Finance Minister Senator Mohammad Ishaq Dar and held discussion on development Policy Credit-2 (DPC) relating to growth and power sector. Dar Informed Benmessauod that Pakistan had achieved all the major targets with regard to power sector DPC-2 and had a firm resolve to keep up reform process in the sector.
Mr. Benmessauod appreciated government’s efforts for achieving the above said targets and added that the Board meeting of the World Bank would be held on June, 18 for the growth DPC, says a statement issued by the Ministry of Finance here.
The World Bank, it may be mentioned, is providing assistance to support Pakistan’s economic reforms as well as uplift of power sector.
The Sector Reform DPC supports Pakistan’s goal of developing an efficient and consumer-oriented electric power system that meets the needs of its people and economy, sustainably and affordably.
The Power DPC focuses particularly on policy and institutional actions that will improve financial viability and thus reduce the burden of public financing for the sector. It is structured around objectives of improving tariff policy’, improving sector performance and opening the market to private participation and ensuring accountability and transparency.