The World Bank has linked the economic growth and development of Pakistan with the availability of water and electricity and underlined the need of better management, cost recovery and reducing subsidies.
According to the World Bank, continued investments in both rehabilitation of strategic assets (storage, barrages, irrigation systems) as well as new investments to shift the energy mix towards lower cost sources was essential. “The importance of water goes far beyond the development of hydropower. Pakistan has the world’s largest contiguous water system – the Indus. This Indus Basin Water System (IBWS) is considered the backbone of the country’s economy and is the sole source of water supply supporting life and livelihoods. In addition to providing water for irrigated agriculture, these resources also support the development of major cities, industry, and growth centres. Considering the country’s strategic location at the cross-roads of South Asia, Central Asia, China and the Middle East and its large working age population, this untapped wealth can help unleash the country’s economic potential,” said the World Bank, adding that the huge development needs of the 21st century required a strategic approach to boosting growth and addressing the existing challenges.
