UNDP Commends Pakistan for Investing in Sustainable Infrastructure

The federal Minister for Finance and Revenue, Shaukat Tarin, met with the Resident Representative United Nations Development Program (UNDP), Knut Ostby, at the Finance Division today.

Knut Ostby gave a briefing about the UNDP’s commitment to achieving Sustainable Development Goals (SDGs). He added that it is easier for developing countries to achieve SDGs with the support of multilateral and engagement with the private sector. Also, ‘development for everybody’ is at the center of UNDP’s development agenda, Ostby said.

Along the same lines, UNDP is focusing on the sustainable investment potential in Pakistan’s private sector. The team also highlighted Prime Minister Imran Khan’s motive for ‘Investment in Sustainable Infrastructure’ and commended the efforts of the current government in this regard.

The Minister for Finance, Shaukat Tarin, welcomed the UNDP team and gave an overview of the ongoing economic challenges and respective reform projects being undertaken by the government. He said that the government is committed to introducing reforms in various sectors to tackle longstanding structural issues, with a special focus on sustainable and inclusive growth.

Minister Tarin revealed that the loans for agriculture, production, and business development are being disbursed. Also, the government is moving away from the trickle-down approach and is focusing on the bottom-up approach for more inclusive, equitable, and sustainable development.

It was announced that issues such as fragmented industries, undue profits by middlemen, producers’ direct access to markets, and access to capital and financial intermediation are on priority for the government, and any assistance by the UNDP in these areas will be welcomed.

Ostby commended and supported the incumbent government’s efforts for improvement in the social and economic sectors. He re-affirmed the UNDP’s commitment to supporting the implementation of Ehsaas and the Kamyab Pakistan Program, and explore more areas to support Pakistan in its efforts for sustainable development.

Ammara Durrani, the Assistant Resident Representative of the UNDP; the Senior Technical Advisor of the UNDP on Financing for Development, Haroon Sharif; and the Policy Analyst of the UNDP, Umer Akhlaq Malik, and other senior officials also attended the meeting.