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Tag Archives: World Bank

World Bank delegation appreciates Land Record Program of Punjab Revenue Board

LAHORE: A group of World Bank has visited Land Record Computerization Center in Lahore Cantt. World Bank gives financial support to Punjab Revenue Board for computerization of land record. According to spokesperson of Punjab Revenue Board a delegation of World Bank visited Record Center in supervision of Mission Head Edward Cook. Other members of the delegation were Aegar Papu, Toni ... Read More »

Canada, IFC, OPIC, provide $62.7 million for Jamaica’s private sector

KINGSTON: A member of the World Bank Group, with the support of the Government of Canada and along with the Overseas Private Investment Corporation (OPIC, the U.S. Government’s development finance institution) will help BMR Jamaica Wind Ltd. build, operate and maintain a 36.3 MW capacity wind farm about 90 km west of Kingston. This will be the largest renewable energy ... Read More »

World Bank describes poorest nations rise and fall

KATHMANDU: The world’s 48 Least Developed Countries (LDCs) – a special category of developing nations created by the General Assembly in 1971 but refused recognition by the World Bank have long been described as the ‘poorest of the poor’ in need of special international assistance for their economic survival. But only three  Botswana, Cape Verde and the Maldives – have ... Read More »

World Bank appreciates Russian strategy to develop broadband internet

MOSCOW: The World Bank appreciated on Russian strategy to develop broadband internet as it has made its development a priority. “The strategic development objectives for the ICT (information and communications technology) sector are to leverage high technology and innovation to strengthen a modern, well diversified economy,” World Bank said. “Many governments around the world view broadband as the foundational infrastructure ... Read More »

World Bank grants Rs 50 million to Excise Dept to computerise property tax record

LAHORE: The World Bank has granted Rs 50 million to Punjab Excise and Taxation Department to computerize property tax record of urban unit in the province. The project will be completed until January 31, 2015. Additional Director General Excise and Taxation Punjab Masoodul Haq said that excise Punjab will chase the target to complete computerization of property tax record before ... Read More »

World Bank urges Philippines to lower top marginal income tax rate to 25%

MANILA: World Bank has suggested that Philippines should lower the top marginal income tax rate to 25 percent that simplify the tax system for micro and small enterprises. The World Bank has said that tackling poverty in the Philippines will require revenue-raising tax reforms to fund infrastructure, health, and education investment. A new report from the World Bank recommends that ... Read More »

50pc, above losses: Discos directed to outsource bills recovery to private firms

ISLAMABAD: To ensure full recovery of the cost of electricity, all power distribution companies (Discos) to outsource collection of bills from consumers in areas of high-loss feeders to boost recovery. The government has confirmed to the World Bank, the Asian Development Bank (ADB) and Japan International Cooperation Agency (Jica) that distribution companies had already started tendering out bill collections in ... Read More »

World Bank ready to provide $500 million to Bangladesh for riverbank improvement

DHAKA: The World Bank (WB) continues to show its confidence on Bangladesh government and provide another loan of USD 500 million to Bangladesh for riverbank improvement projects to prevent erosion and reduce the incidence and severity of flooding along selected sections of the Brahmaputra and Jamuna. The government earlier sought such assistance under the ongoing country assistance strategy (CAS) of ... Read More »

GDP growth rate to up by 7pc, exports $32b, FDI $5.5b, reserves $20b by 2018, claims Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar, addressing the 16th National Security Workshop on the topic “Economic Policy of Pakistan” at the National Defence University, has said that the country’s GDP growth rate will be increased to 7 per cent by the year 2017-18. Finance Minister Senator Ishaq Dar said that fiscal consolidation, power sector reforms, gas sector reforms, privatisation programme, ... Read More »

Pakistan committed to uplift, fighting crises, Nawaz tells World Bank

LONDON: The government of Pakistan is committed to pursuing the agenda of development and reforms, specifically focusing on the plans for elimination of energy crisis and poverty, claimed Prime Minister Nawaz Sharif. He was meeting with a World Bank delegation on the sideline of the London Conference. Mr Nawaz said the Pakistani government was trying to turn the challenges into ... Read More »

$15b reserves target nears as govt raises $1b by selling Sukuk bonds

LONDON: Federal Finance Minister Ishaq Dar has expressed the confidence that the government would achieve $15 billion foreign reserves target by December 31 this year as response to Sukuk would far exceed the interest evinced in Euro Bonds. Pakistan raised $1 billion from the international Islamic bond market on Wednesday by selling its Sukuk papers at 6.75 per cent profit ... Read More »

 FBR delegation attends seminar in Seoul on Price Valuation, Assessment

ISLAMABAD: A two- member delegation of higher officials of the Federal Board of Revenue (FBR) is representing Pakistan at a week- long seminar on Price Valuation and Assessment in South Korean capital Seoul. Moreover, the source said that The World Bank, Korean Tax Administration, the Organization for Economic Co-operation and Development (OECD are organisers of the seminar which kicked off ... Read More »

WB team visits 4,200MW Dasu dam to settle dispute between locals, WAPDA

MANSEHRA: A three-member World Bank (WB) team, led by Jhao Hao, has visited Kohistan to meet the locals affected by the construction of 4,200 MW Dasu Hydropower Project. The WB team visited the area in bit to settle the land price dispute between landowners and Wapda. The construction work on the dam was suspended a couple of month ago after ... Read More »

Rs4,300b revenue could be generated thru wealth, agri taxes, FBR Union tells TRC

LAHORE: The Federal Board of Revenue (FBR) Union has sent some proposals to the Tax Reform Commission (TRC), in which it said that the Board can generate revenue equal to the total volume of federal budget i.e. Rs4,300 billion through imposition of wealth tax and implementation of agri tax. FBR Union President Mian Abdul Qayyum, in the letter, said that ... Read More »

MDTF: WB says $31m of $44m spent on five Fata projects

PESHAWAR: The World Bank has so far spent $31 million out of total $44.95 million committed for five development projects in the Federally Administered Tribal Area (Fata) under Multi Donors Trust Fund (MDTF). WB country Director Rachid Bin Masoud disclosed this during a meeting with Fata Additional Chief Secretary Mohammad Azam Khan here. Mr Masoud sai that the World Bank ... Read More »

Pakistan needs 1m houses per year to cope with rising demand: ICCI

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Acting President Shakeel Munir said while quoting a World Bank (WB) report that Pakistan was facing acute shortage of housing units and needs to build 1 million houses per year to cope with the rising demand of people. The real estate sector plays a vital role in activating almost 40 allied industries ... Read More »

Rs4,300b revenue could be generated thru wealth, agri taxes, FBR Union tells TRC

LAHORE: The Federal Board of Revenue (FBR) Union has sent some proposals to the Tax Reform Commission (TRC), in which it said that the Board can generate revenue equal to the total volume of federal budget i.e. Rs4,300 billion through imposition of wealth tax and implementation of agri tax. FBR Union President Mian Abdul Qayyum, in the letter, said that ... Read More »

World Bank helps Punjab in vocational training programme: Monami Latif

LAHORE: The World Bank Senior Education Specialist, Human Development Unit for South Asian Region Ms Scherezad J Monami Latif, during a visit at Lahore Chamber of Commerce and Industry (LCCI), said that World Bank has been supporting the Punjab government in vocational training programme as the province witnessed growth in skilled labour. She said that to get the desired results, ... Read More »

Deputy Collector Tauqir says development of infrastructure at land ports can boost trade

Customs official praises measures taken by Commerce Ministry for infrastructure development and land port     LAHORE: Development of infrastructure at the land ports can enhance the trade activities, said Customs Deputy Collector Tauqir Dar at Wahga border. Talking to Customs Today, Dar praised the measures taken by the Commerce Ministry regarding the infrastructure development and establishment of a land ... Read More »

World Bank grants Rs 400 million to Lahore

LAHORE: The World Bank has released a Rs 400 million grant for Lahore district. This amount is specifically issued for the development of the local government and municipality system. The World Bank has started a programme, Punjab City Governance Improvement Programme, in five districts of Punjab. The bank and district governments are working together on the programme to provide maximum ... Read More »