WB approves $500m loan for Pakistan’s budget support

Dawn | Jul 1, 2020 at 9:01 AM
  • The World Bank (WB) on Tuesday announced that it has approved another $500 million loan to Pakistan for the country’s budget support following its increased expenditures on Covid-19 crisis response.
  • The programme supports reforms to broaden the tax base and reduce distortions in tax policy, strengthen debt management and transparency, and implement urgently needed reforms to achieve financial viability of the power sector.
  • The programme includes reforms to improve the integrity of the banking sector, promote digital finance, and create a more competitive national tariff policy to promote trade and reduce costs to consumers.