The vice president of the World Bank in South Asia, Martin Raiser, said on Saturday that Pakistan can become an economy of $ 1 billion by 2035 with an annual growth rate of seven percent, saying that achieving the same was “absolutely” feasible .
During an exclusive interview for The Express News interview program, The Review, the World Bank representative said that long -term projections are always a bit complicated, but the Pakistan local economic rebirth plan has the potential to make the country an economy of billion dollars in the next decade.
Raiser sat down with the World Bank’s promise heels to provide $ 20 billion to Pakistan in the next 10 years.
The WB vice president said that Pakistan would require an annual growth rate of seven percentage to achieve the objective. “That is feasible,” Raiser questioned before answering “absolutely.” Are you currently projected, did you also question, and added that it was probably not? However, he emphasized the need to see the key reforms that will make it possible.
To a question if WB communicated with other political actors, Raiser responded affirmatively, saying that the WB has consulted throughout the political spectrum. This is part of our preparation process that we make these consultations with the appropriate civil society group, he said, adding that “we have also talked to the opposition.”
When commenting on the commercial ties and foreign investment of Pakistan and India, Raiser said that Pakistan should focus on what he has under his own control, emphasizing that there are many things he can do to attract more investment.
To a question if the loan of $ 20 billion to Pakistan was a guaranteed or indicated loan, Raiser said it is indicative. According to WB loan instruments, he explained, Pakistan has access to the concession funds of the International Development Agency and the official non -concessional loans of the International Bank for reconstruction and development.
He said that Pakistan has an exposure allocation that corresponds to the size of his economy and his ability to pay.
