ISLAMABAD: Minister for Economic Affairs Ahad Cheema welcomed the delegation of Executive Directors (EDs) and Alternate Executive Directors (AEDs) from the World Bank Group (WBG).
The Minister appreciated this third high-level delegation from WB in a limited time, which reflects WB’s confidence in our vibrant and impactful ongoing economic reform process and its strong partnership with Pakistan.
He added that the visit aimed at enhancing understanding of Pakistan’s economic, political, social, and governance landscape while exploring opportunities for future development support under the newly launched Country Partnership Framework (CPF) for 2026-2035.
Govt aims to privatise up to 50 SOEs in next 3-4 years: minister
Minister Cheema outlined the government’s priority to privatise State-Owned Enterprises (SOEs), recognising that approximately one-third of these SOEs are strategic assets. He reiterated the government’s goal to privatise the remaining SOEs in phases.
In the first phase, the government is focusing on the privatisation of power distribution companies (DISCOs), and in the second phase, Pakistan International Airlines (PIA) and other SOEs are to be privatised.
The Minister shared that the government aimed at privatising up to 50 SOEs over the next 3-4 years.
The Minister also emphasised the critical challenges currently faced by Pakistan’s power sector, including high tariffs for consumers, significant losses in line efficiency, and the ongoing efforts to achieve full cost recovery for the sector.
He acknowledged that renewable energy resources and addressing line losses were among the main areas of focus for Pakistan’s energy strategy.
Highlighting the ongoing digitalization efforts, Minister Cheema stated that Pakistan was making significant strides in the digital transformation of its economy.
He mentioned that comprehensive research and review of digitalisation models had been completed, and “the country is now advancing towards end-to-end digitalization of its institutions.”
In response to a question regarding youth employment and women’s empowerment, Minister Cheema emphasised that the government was making substantial progress in both areas.
“Technical training programmes for youth and women empowerment initiatives are running successfully, with adequate budgetary allocations to ensure their expansion.”
He added that “training programmes related to IT are going well, and we are one of the largest countries having trained freelancers.”
The Minister also provided an update on Pakistan’s economic stability, pointing out that circular debt levels were low, and the currency was recovering thanks to the government’s effective measures.
He highlighted that Pakistan’s economy was on a positive trajectory with increased Public Sector Development Programme (PSDP) funding aimed at strengthening infrastructure and social development projects.
In their remarks, WB delegates commended the government of Pakistan for its commitment to reform and the remarkable progress made in addressing critical challenges.
They expressed that World Bank’s strong support for Pakistan’s new CPF and affirmed that the WB remained steadfast in its partnership with Pakistan to help achieve its development goals.
They also acknowledged the government’s comprehensive reform agenda and highlighted the importance of aligning efforts to address urgent needs such as climate change, governance, and gender equality.
Minister Cheema underlined the need to develop a comprehensive strategy to address the key implementation issues such as project preparation and readiness, procurements, land acquisition etc. to successfully achieve the expected outcomes of the new CPF.
Minister Cheema expressed deep appreciation for the longstanding and unwavering support provided by the WB in Pakistan’s development journey.
He highlighted the WB’s instrumental role in Pakistan’s socio-economic progress, particularly in the aftermath of the Covid-19 pandemic and the
catastrophic 2022 floods.
Copyright Business Recorder, 2025
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