Finance Minister Muhammad Aurangzeb discussed key structural reforms undertaken by the government with Makhtar Diop, Managing Director & Executive Vice President of the International Finance Corporation (IFC), a commercial arm of the World Bank Group, his office said on Friday.
During the meeting, both sides reaffirmed their commitment to continued collaboration and investment Pakistan’s economic development, read the statement released by the Finance Division.
Aurangzeb congratulated IFC on its recently signed projects with the private sector and commended the thriving and vibrant role of private enterprises in Pakistan.
He also briefed the delegation on Pakistan’s macroeconomic stability, mentioning his recent meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), in Dubai.
The Senator apprised that Georgieva appreciated Pakistan’s progress on the macroeconomic front, read the statement.
He further highlighted that since the last meeting with IFC in Davos, improvements have been observed on both the debt and equity sides.
Aurangzeb outlined key structural reforms, “including the introduction of agricultural income tax—an unprecedented step in the country—along with pension reforms and rightsizing initiatives across 43 ministries and 400 attached departments, many of which have been merged or wrapped up”.
He reaffirmed the government’s commitment to fostering an environment where the private sector leads economic growth, particularly in driving export-led expansion.
Meanwhile, Makhtar Diop acknowledged the government’s reform efforts, noting that private sector stakeholders in Pakistan have expressed confidence in the finance minister’s policies and are appreciative of the progress being made.
He also commended Pakistan’s Country Partnership Framework (CPF) with the World Bank, recognizing it as one of the best practices globally.
Diop reiterated IFC’s commitment to working closely with Pakistan and providing support in key areas such as green energy, data centres, agricultural supply chain improvements, the telecom sector, and digitization.
Aurangzeb highlighted the government’s recent declaration of warehousing as an industry and reaffirmed its commitment to public-private partnerships (PPPs) in infrastructure, IT, data centres, and AgTech.
He emphasized that agricultural income tax remains a key area of discussion, alongside the broader goal of capital mobilization, where the private sector must play a leading role.
The finance minister also noted that several international partners have publicly acknowledged Pakistan’s growing investment potential.
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