Pakistan must speed up energy sector dev

Islamabad—The World Bank has said that Pakistan must speed up reforms in the energy sector and bring more women into the labor force to quicken its economic growth. According to the World Bank’s country representative, Pakistan’s economy should expand with a 4.5 percent rate in the following year, a private news channel reported. The World Bank claims to foresee Pakistan’s growth rate to edge up to 4.8 percent. In order to absorb fresh candidates in workforce the economy needs to expand by 6 percent every year, experts say.
Country Director of World Bank Illango Patchamuthu said Pakistan had promoted from a collapse in global oil prices and tough fiscal measures by the government over the past few years to even out the economy. But he recommended faster development in the energy sector, which had suffered years and years of under-investment. Repeated power outages hurt growth and investment.—APP

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