World Bank and Pakistan Agree on Rolling Country Framework Plan for 10 Years – Pakistan

Pakistan’s Finance Minister Muhammad Aurangzeb shared progress on economic reforms during a meeting with World Bank Group President Ajay Banga on Tuesday.

According to a statement issued by the Ministry of Finance, Finance Minister Muhammad Aurangzeb, who is on a visit to Washington to participate in the spring meetings organized by the International Monetary Fund (IMF) and the World Bank, visited the IMF for 9 months. Highlighted Pakistan’s progress in the ongoing reforms in the priority sectors of taxation, energy and privatization under the standby arrangement.

The finance minister said that Pakistan and the IMF are discussing a new multi-billion dollar program.

“Both parties have agreed on the need for a rolling country framework plan for 10 years,” the statement added.

Besides, the Finance Minister also invited the President of the World Bank to visit Pakistan.

Mohammad Aurangzeb also met Asian Development Bank (ADB) President Masatsugu Esawa separately on Tuesday.

The statement issued after the meeting said that ‘Discussions focused on further strengthening Pakistan’s partnership with the Asian Development Bank, securing concessional financing for the country’s projects and future project pipeline.’

“During the meeting, they discussed ways to expand DFC’s investment in Pakistan after amicable resolution of outstanding issues,” the statement added.