FinMin stresses technical support from World Bank
Business
Aurangzeb appreciates international institution’s support
KARACHI (Web Desk) - Finance Minister Muhammad Aurangzeb on Wednesday told a World Bank delegation that the country has enough financial assistance, stressing that it requires technical support and expertise to make the most of it.
A delegation of nine executive directors of the World Bank arrived in Pakistan this week to discuss the country’s economic projects and investments, meeting Prime Minister Shehbaz Sharif on Monday.
“We have enough financial support and assistance; what we truly need now is the expertise and technical support to make the most of them,” Aurangzeb was quoted by Pakistan’s Finance Division as saying in a statement.
Aurangzeb appreciated the international institution’s support for Pakistan’s economic growth and development agenda.
He outlined the government’s structural reforms, focusing on revenue mobilization, energy sector reforms, restructuring of state-owned enterprises and privatization efforts.
“He emphasized the government’s focus on fiscal discipline through expenditure control and broadening the tax base, highlighting ongoing rightsizing efforts and projected revenue growth,” the Finance Division said.
The minister reaffirmed Pakistan’s commitment to privatize loss-making public assets, saying that Islamabad was committed to ensuring a business-friendly environment where the private sector takes the lead in driving economic growth.
The Finance Division said that the delegation appreciated Pakistan’s reform agenda, noting that key economic measures were already yielding visible results.
“Your government has been successful in touching every important aspect of the economy, and things seem to be achievable now if you stay the course,” the delegation said, as per the Finance Division.
The World Bank officials also reaffirmed the institution’s commitment to continuing its collaboration with Pakistan, supporting priority sectors and providing the necessary technical expertise to help the country navigate economic challenges, the Finance Division said.
