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2-man WB team due in a few days

JAVED MEHMOOD

ISLAMABAD: A two-member World Bank mission is reaching Pakistan in the next few days for a six-month review of Pakistan's economy and to have a first-hand knowledge of the privatisation and reforms policies being pursued by the new military government, it was learnt.

The mission may also disburse already approved $50 million technical assistance for tax reforms in the Central Board of Revenue (CBR), an official source said.

The two members of the mission, Robert Spiezer and John, would join the local mission of the Bank for a deep review of economy and marathon consultations with the economic managers of Pakistan regarding revival of economy and reforms, sources said.

Besides, it is expected that the Bank would also look into the cases of independent power producers (IPPs) and Hubco and stress the government to resolve the issues as early as possible.

The mission is scheduled to meet CBR Chairman, Riaz Hussain Naqvi and other senior officials of the Board on January 20, and is expected to finalise arrangements for the disbursement of $50 million technical assistance for the CBR.

Sources said the mission would also take stock of the ongoing development projects in Pakistan the Bank had funded here.

During the review, the Bank would look into the privatisation process and may point out potential of privatisation of a number of public entities.