Macro-economic situation: Aurangzeb briefs World Bank official

ISLAMABAD: South Asia Regional Vice President (SARVP) of the World Bank Martin Raiser called on the Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at Finance Division, Monday, said a press release issued on Monday.

The meeting was also attended by Country Director of the World Bank (WB) Najy Benhassine and senior officers from Finance and Economic Affairs Divisions.

The finance minister briefed Raiser on the macro-economic situation of the country and efforts of the government for stabilisation of the economy. The finance minister outlined the government’s priority reform areas including increasing the tax to GDP ratio, reducing the costs in energy sector, SOE reforms, privatisation and human capital development.

Raiser acknowledged Pakistan's commitment to economic reforms and reiterated the World Bank's readiness to extend technical assistance and financial support to facilitate the country in achieving its developmental objectives.

The finance minister requested the World Bank Vice President to align country partnership framework of WB with the priority reform areas of the GOP. Raiser acknowledged the request and stated that the World Bank Group will provide necessary support to GOP in implementing its reform agenda in energy sector, boosting exports, microfinance, building climate resilience and social protection.

The meeting concluded with both sides reaffirming their commitment to strengthening the partnership for the betterment of Pakistan's economy and its people.

Copyright Business Recorder, 2024