Islamabad November 28 2024: Country Director World Bank, Najy Benhassine here on Tuesday appreciated the government’s reform initiatives and reiterated the bank’s commitment to assisting Pakistan in addressing economic challenges and achieving its developmental objectives.
During a meeting with Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, the WB Country Director assured continued support from the bank in key areas identified during the meeting.
The meeting was also attended by the Finance Secretary and senior officers of the Finance Division, according to press release issued by finance ministry.
During the meeting, the federal minister highlighted the importance of collaboration with the World Bank to support Pakistan’s economic reforms and development agenda.
He appreciated the World Bank’s financial and technical assistance across various sectors and reiterated the government’s commitment to fiscal discipline, sustainable growth, and efficient resource utilization.
Discussions focused on the establishment of a robust and transparent tax policy framework to enhance revenue mobilization and improve compliance while ensuring equitable taxation.
The World Bank team also offered technical assistance to streamline the budget-making process, adopting modern practices to improve transparency and accountability in public financial management, an effective debt management mechanism to ensure fiscal sustainability and reduce risks.
Issues related to Agricultural Income Tax Regime and GST harmonisation in coordination with provinces and enhanced focus on active role of National Tax Council also came under discussion.
The Finance Minister expressed gratitude for the WB’s support and reaffirmed the government’s resolve to implement reforms aimed at sustainable economic progress.
