The World Bank (WB) has assured Pakistan its full support for reforms and digitalization programmes to stabilize the economy and enhance revenues.
According to statement issued by the finance ministry, Minister for Finance and Revenue Muhammad Aurangzeb met with President World Bank Group Ajay Banga and highlighted Pakistan’s progress under the nine-month Standby Arrangement (SBA) program and ongoing reforms in priority areas of taxation, energy and privatization.
Both sides agreed on a rolling Country Framework Plan for 10 years. The statement added that the minister had also invited the president to visit Pakistan.
The minister also met with the Asian Development Bank (ADB) president, Masatsugu Asakawa, and discussed further strengthening Islamabad’s partnership with the ADB, protecting the country’s envelope of concessional financing and future project pipeline.
During the meeting with Chief Executive Office, US International Development Finance Corporation (DFC) Scott Nathan, the finance minister and Mr. Nathan explored various avenues for the expansion of DFC’s investments in Pakistan. This discussion followed the amicable resolution of outstanding issues, indicating a positive outlook for future investments in the country.
