While the conditions for the RISE-II loan pertain to the fiscal and macroeconomic framework, the WB believes Pakistan cannot achieve macroeconomic stability until its power sector is fixed. Finance Minister Punjab Muhammad Mohsin Leghari, Minister of State for Finance and Revenue Dr Aisha Ghous Pasha, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha also attended the meeting. The issue of de-coupling the RISE-II loan from the second Programme for Affordable Energy (PACE-II) loan worth $600 million, however, remains unresolved. At present, the Washington-based lender has clubbed the approval of the $450 RISE-II loan and the $600 million PACE-II. At this stage, however, Pakistan hopes to get approval for the $450 million RISE-II policy loan.

Source: The Express Tribune November 08, 2022 11:13 UTC