Islamabad (HRNW)-\u00a0Federal Minister for Finance Muhammad Aurangzeb reviewed progress under Pakistan\u2019s economic reform partnership with the World Bank during a meeting with a delegation led by World Bank Country Director Bolormaa Amgaabazar. The discussions focused on moving reforms from policy design toward effective implementation, with an emphasis on economic growth, investment and employment.<\/p>\n
The meeting covered the proposed World Bank Growth and Jobs operation, measures to improve the investment climate, reduce regulatory barriers and expand access to finance for small and medium-sized enterprises. The World Bank also presented proposed export-finance products for Pakistan\u2019s Export-Import Bank (EXIM Bank) aimed at supporting trade flows and strengthening export financing.<\/p>\n
Both sides reviewed Pakistan\u2019s National Tariff Policy and ongoing tariff reforms, including measures concerning the automotive sector. Discussions also covered capital-market reforms, financial-sector development and steps to strengthen domestic sources of financing and investment.<\/p>\n
The talks further addressed tax-policy reforms, the Medium-Term Revenue Strategy, GST harmonisation and improved data sharing between federal and provincial governments. Progress on agricultural income-tax reforms and provincial property-tax reforms, including more market-based property valuation, was also reviewed.<\/p>\n
The meeting also examined skills development and international recognition of qualifications to support overseas employment, along with governance reforms, government rightsizing and more effective use of public resources. Aurangzeb stressed the importance of stronger debt management and development of Pakistan\u2019s domestic bond market, while the World Bank\u2019s support for improving the country\u2019s sovereign credit profile was also discussed.<\/p>\n
Pakistan and the World Bank reaffirmed their commitment to continuing the economic reform partnership, with both sides emphasizing implementation, institutional strengthening, private-sector-led growth and improved investment opportunities.<\/p>\n