Rising oil, food prices hurting Pakistan's poor: World Bank

Praful Patel, World Bank Vice President, ended the five-day farewell visit to Pakistan on Friday, noting that tough, yet essential, reforms can ensure that high international prices for petroleum and food commodities would not derail the country's poverty reduction and economic development.

"International oil and food prices have continued to rise since then, and we are working closely on their programme to address the cost to Pakistan of high prices, and to ensure the poorest are protected," he remarked.

A statement issued by the World Bank here on Friday said that Patel had met with Prime Minister Yusuf Raza Gilani and government economic team led by Federal Minister for Finance Naveed Qamar, and discussed the economy and safety nets to protect the poor, as domestic prices are adjusted.

In this regard Patel offered World Bank support to build upon international best practices in responding to the current situation. In meetings with President Pervez Musharraf, Pakistan People's Party Co-Chairman Asif Zardari, and President of Pakistan Muslim League-N Shahbaz Sharif, Patel thanked them for the warm reception and hospitality shown to him throughout his tenure as the regional Vice President of the World Bank.

Patel is retiring from the World Bank after 35 years' service. He expressed hope that Pakistan's development partnership, with the World Bank, would continue to grow from strength to strength. During his visit, Patel once again reconfirmed the World Bank's ongoing commitment to Pakistan.

He noted that despite uncertainty in the recent months the World Bank's programmes in Pakistan would remain on track. He said that World Bank's technical assistance with targeting exercises on the social safety nets, capacity and institution-building for water management, and electricity generation and distribution efforts would help Pakistan in meeting its development priorities.

In Sindh, Patel met with Chief Minister Qaim Ali Shah and his economic team to learn of the new government's priorities and to get an update on the ongoing World Bank assisted development initiatives in the province. Patel made a good-bye visit to Keti Bunder, a community that he has come to know over the years through Bank assisted Pakistan Poverty Alleviation Fund (PPAF) project in Thatta.

The Keti Bunder community is benefiting from social mobilisation, small infrastructure projects of drinking water and street pavements, and income generation activities under the project. "Over the last five years, I have visited Pakistan very often, and have always gone back impressed with the resilience of its people," said Patel.

"Persisting and new challenges notwithstanding, I am sure that with the right policies and strong support from its development partners, Pakistan can maintain its poverty reduction path. I take very fond memories with me and wish Pakistan well."