Global financial organisations commit to support Pakistan’s economic initiatives

Leading global financial organizations like the World Bank (WB), Asian Development Bank (ADB) and International Finance Corporation (IFC) have assured their support for Pakistan’s initiatives aimed at economic stabilisation through structural reforms, digital transformation and privatization efforts.
The assurance came during sidelines meetings of Federal Minister for Finance and Revenue Muhammad Aurangzeb, who is leading a Pakistan delegation in the IMF and World Bank-2024 Spring Meetings in Washington DC, with heads and representatives of the global lending institutions. Talking to WB Group President Ajay Banga, the finance minister appreciated the bank’s continuous support to Pakistan in implementing its development agenda, highlighting the government’s commitment to advance significant reforms in taxation, energy and privatization sectors. He underscored the importance of digital technologies to enhance governance and public service delivery, and asked the government was keen to work closely with the Bank to pursue the revenue reform agenda as well as timely investment in critical areas to help improve the domestic revenue mobilization. Both sides agreed on the need for a rolling Country Framework Plan for 10 years.