Business News

World Bank urges Pakistan to curb power outages to support growth

Latest Update: October 5, 2015 | 163 Views
World Bank

ISLAMABAD: World Bank authorities on Monday have said that Pakistan needs to take steps for easy access to loans and curb power outages to speed up development in the country.

The banks’ report states that Pakistan’s economic growth is expected 4.5 percent in the ongoing year. Besides increase in remittances and agricultural growth, steps to decrease budget deficit also helped the growth.

The report predicts that budget deficit and total growth ratio is likely to maintain at 3.5 percent until 2016. The government will need fewer loans from banks which will benefit private sector due to easy loans.

The World Bank has stressed need to increase income sources for development projects and better infrastructure.