Pakistan, World Bank review reform agenda

May 18, 2026 (MLN): Pakistan’s ongoing economic reform agenda and institutional modernization efforts remained in focus as the government and the World Bank reviewed progress on a wide range of reform initiatives.

The discussions, held at the Finance Division, also covered technical assistance programs and fiscal transformation measures.

The discussions covered public financial management reforms, institutional capacity building, debt management, private sector development, and implementation of various reform-linked initiatives being supported by the World Bank.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb appreciated the World Bank’s continued engagement with Pakistan on economic reforms and institutional development, while emphasizing the importance of close coordination and technical collaboration to support the government’s reform priorities.

The Finance Minister stressed that technical assistance programs should remain focused, specialized, and aligned with clearly defined reform objectives.

He highlighted the government’s preference for high-quality international expertise, practical implementation support, and knowledge transfer aimed at strengthening institutional capacity within the public sector.

He also underscored the need to develop sustainable in-house expertise to improve the government’s ability to independently manage and implement complex reform initiatives over time.

Discussions further focused on the government’s ongoing transformation of the Federal Board of Revenue (FBR) through reforms centered on people, processes, and technology.

Progress on automation, digitization, simplification of procedures, and technology-driven monitoring systems was reviewed, with the Finance Minister reiterating the government’s commitment to broader tax administration reforms and institutional modernization.

The World Bank team shared updates regarding technical support related to the Medium-Term Revenue Strategy (MTRS), Tax Policy Office (TPO), and FBR transformation initiatives.

Both sides also discussed ways to strengthen coordination, accelerate implementation, and align reform measures with broader fiscal and governance objectives.

The meeting also reviewed structural reform priorities aimed at promoting sustainable and export-oriented economic growth, including regulatory reforms, trade facilitation, export competitiveness, access to credit markets, and capital market development.

The Finance Minister emphasized the government’s focus on deepening domestic debt and capital markets, reducing overreliance on bank financing, and expanding market-based financing avenues.

Discussions also covered debt market development, investor outreach, and efforts to enhance Pakistan’s investment profile and access to international financial markets.

Participants additionally exchanged views on labor market reforms, vocational skills development, overseas employment opportunities, workforce competitiveness, and analytical work relating to public sector efficiency and long-term growth and jobs strategy.

The World Bank delegation was led by Bolormaa Amgaabazar and included Tobias Haque, Anna Twum, Rafay Khan, Sahar Etezaz, and Shabih Ali Mohib.

Copyright Mettis Link News