Global financial organisations commit to support Pakistan’s economic initiatives

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 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.

Read more: https://www.nation.com.pk/18-Apr-2024/global-financial-organisations-commit-to-support-pakistan-s-economic-initiatives

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