Global financial giants back Pakistan’s economic reforms

Leading global financial organisations like the World Bank (WB), Asian Development Bank (ADB), and International Finance Corporation (IFC) have pledged their support for Pakistan’s economic stabilisation efforts through structural reforms, digital transformation, and privatisation. During sideline meetings at the International Monetary Fund (IMF) and World Bank-2024 Spring Meetings in Washington DC, Federal Minister for Finance and Revenue Muhammad Aurangzeb led a Pakistan delegation and engaged with heads and representatives of these global lending institutions. In discussions with WB Group President Ajay Banga, the finance minister lauded the bank’s consistent support for Pakistan’s development agenda. He reiterated the government’s commitment to significant reforms in taxation, energy, and privatisation sectors and stressed the importance of digital technologies for governance enhancement and public service delivery. Both sides agreed on the necessity of a ten-year rolling Country Framework Plan.