Federal Finance Minister Muhammad Aurangzeb requested the Regional Vice President of the World Bank to align the Country Partnership Framework with Pakistan’s priority reform areas.
According to the Ministry of Finance, World Bank’s South Asia Regional Vice President, Martin Riser, who is visiting Pakistan, has met Finance Minister Muhammad Aurangzeb on Monday in the Finance Division, in which World Bank’s Country Director, Naji Benhasin, Senior officers of Finance and Economic Affairs Division were also present.
Finance Minister briefed Martin Riser on the country’s macroeconomic situation and the government’s efforts to stabilize the economy. He presented the outline of the government’s priority reform areas, including an increase in the tax-to-GDP ratio, cost reduction in the energy sector, SOE reforms, deregulation, and improvement in human capital.
At this occasion, Martin Riser acknowledged Pakistan’s commitment to economic reforms and expressed readiness from the World Bank to provide technical and financial assistance to facilitate the country in achieving its developmental objectives.
Finance Minister requested the Vice President of the World Bank for the South Asia region to align the World Bank’s Country Partnership Framework with the government of Pakistan’s priority reform areas.
Accepting the request, Riser stated that the World Bank Group would support the government in implementing the reform agenda in the energy sector, promoting revenues, creating microfinance, generating environmental resilience, and providing essential support in social protection. Both sides reaffirmed their commitment to strengthen collaboration for the betterment of Pakistan’s economy and its people during the meeting.
