Pakistan, World Bank to finalize new country partnership framework

April 20, 2024 (MLN): Finance Minister Muhammad Aurangzeb has expressed satisfaction that the new Country Partnership Framework (CPF) between Pakistan and the World Bank would be finalized soon.

According to press release issued by the Ministry of Finance, the remarks from the Finance Minister, who is on a trip to Washington to attend IMF/World Bank Spring Meetings, came during a meeting with Martin Raiser, the World Bank's Regional Vice President for South Asia, to discuss Pakistan's reform initiatives and development priorities.

He underlined the government's reform thrust in the areas of energy, taxation, and state-owned enterprises (SOEs), highlighting the pursuit of both short and long-term goals in these crucial sectors.

Referring to his earlier meetings with the Senior Leadership of the World Bank, Finance Minister stated that the Bank's focus on climate change, digitalization, and human capital development aligns well with the priorities of the government.

Finance Minister highlighted the government's vision to realize Pakistan's true economic potential in terms of sustainable economic growth.

He stressed the importance of timely completion of development projects and the realization of intended impacts and outcomes, emphasizing the need for effective implementation and monitoring.

He also briefed Raiser on the role of the Special Investment Facilitation Council (SIFC) as a one-window facility for investment promotion and facilitation.

Both sides agreed on the need for reforms in the agriculture sector, water management, and waste-water treatment.

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