Imarat

World Bank to finance $350 million for newly formed policy-making body

Islamabad: After devolution under the 18th Amendment, a National Competitiveness Council (NCC) will be formed next. It will have federal, provincial, private sector representations and a secretariat devoted to the PM Office. This plan to integrate ministries has been included in a project document submitted to the World Bank (WB) for financing.

NCC aims to ensure effective service delivery by fostering policy design and programme implementation both at federal and provincial level. The council however will also provide steering for strategic roadmap to drive Pakistan‚Äôs global standing as a trader and commercial hub. Guarantee of provincial endorsement for investment, SMEs, trade policy and frameworks will be made sure of by the council.¬† In this regards, International Development Association is also expected to finance $350 million under the project ‚ÄúPakistan Goes Global: An Initiative for a Global and Technology-driven Pakistan‚ÄĚ.

WB is scheduled to visit Pakistan in July for evaluation of the project.

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