Cooperation and investment: World Bank, IFC bigwigs discuss potential areas with Aurangzeb

ISLAMABAD: The World Bank country director and International Finance Corporation (IFC) country manager on Monday met with Finance Minister Muhammad Aurangzeb and discussed potential areas of cooperation and investment including agriculture, power sector, and Information Technology (IT).

The Finance Ministry said Finance Minister Muhammad Aurangzeb was called on by Najy Binhassine, WB Country Director and Zeeshan Ahmed Sheikh, Country Manager IFC to discuss the collaborative development strategies and initiatives aimed at promoting economic growth, enhancing financial stability, and fostering sustainable development within the country.

The two sides, during the meeting, highlighted the importance of strengthening partnerships with international financial institutions such as the IFC and the WB. The ministry added that discussion was done to leverage their expertise and resources for the country’s development agenda.

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The finance minister highlighted the government’s commitment to creating an enabling environment for private sector investment and ensuring transparency and accountability in financial matters.

The finance minister is said to have shared with the representatives of the WB and the IFC, the government to bring reforms in economic and financial sectors to ensure sustained economic growth in terms of expanding the tax base, the SOEs restructuring, and privatisation.

They also discussed potential areas of cooperation and investment opportunities in various sectors, including agriculture, the power sector, and IT.

The delegates expressed their organizations’ continued support for the country’s development goals and agendas for the welfare of the people of Pakistan.

Copyright Business Recorder, 2024