The World Bank has released a report on South Asia’s development, highlighting the need to reform Pakistan’s tax system, broaden the tax base, and use pollution reduction measures to boost revenue.
The report also warned of rapidly declining groundwater levels in the region, with Pakistan ranking among the world’s most water-scarce countries. Inefficient irrigation and agricultural practices are contributing to significant water waste, though modern irrigation projects in Punjab have saved 57% of water, and advanced agricultural initiatives have increased crop yields by 14–31%.
In Pakistan, electricity and gas subsidies are being tied to the Benazir Income Support Programme (BISP). The World Bank said subsidy reforms could reduce misallocation, financial losses, and circular debt, and suggested redirecting fuel subsidies toward social protection programs.
The report further stated that a climate risk facility is being established for small businesses affected by floods. BISP has been made more effective through digital systems, and during the COVID-19 pandemic, assistance was provided to 12 million families through the programme. Self-registration facilities for aid are available in Pakistan and the Maldives.
Source: Dunya News
