ISLAMABAD: The World Bank Group’s support will not be sufficient to achieve the ambitious targets set forth and attracting private sector investment by improving the business climate is thus the need of the hour.
This was stated by World Bank Vice President for South Asia, Martin Raiser, who concluded his five-day visit to Pakistan. Raiser reaffirmed the World Bank’s continued support to foster growth and inclusive development in Pakistan.
During the visit, Prime Minister Shehbaz Sharif and Vice President Raiser officially launched the new Pakistan Country Partnership Framework (CPF) for fiscal year 2026-35, which sets the strategic focus areas of collaboration between the WB Group and Pakistan for the coming decade.
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“The WB Group’s Country Partnership Framework marks an important evolution in our engagement. It is aligned with Uraan Pakistan, the government’s National Economic Transformative Plan, and focuses on six outcomes with clear, tangible and ambitious 10-year targets.
We hope these targets serve as an anchor for consistent implementation efforts to ensure tangible results for the people of Pakistan,“ said Raiser, through an official statement.
Raiser met with Prime Minister Shehbaz Sharif and several members of his Cabinet to discuss the ongoing reform process and prepare the ground for implementation of the CPF over the next decade.
Raiser thanked the PM for his leadership of the reform agenda, acknowledged Pakistan’s progress in economic stabilisation and discussed the policy reforms and specific actions needed to transition to sustained, inclusive growth and development.
“The WB Group stands ready to work with the private sector and development partners to mobilize additional resources. Implementation of the Country Partnership Framework will additionally rely on the collaboration between federal and provincial governments, joint efforts to mobilize the necessary revenues and targeted measures to improve the efficiency of government spending,” he added.
During his visit, Raiser met with Ishaq Dar, deputy prime minister and minister for foreign affairs; Ahad Khan Cheema, federal minister for economic affairs; Ahsan Iqbal Chaudary, federal minister of planning, development, and special initiatives and inter provincial coordination; Muhammad Aurangzeb, federal minister for finance and revenue; Sardar Awais Ahmad Khan Leghari, federal minister for energy (Power Division); Musadik Masood Malik, minister of energy (Petroleum Division) and Minister of Water Resources; Ali Pervaiz Malik, minister of state for finance and revenue, and Romina Khurshid Alam, coordinator to the prime minister on climate change and environmental coordination. Raiser also met Maryam Nawaz Sharif, chief minister of Punjab, and with Ali Amin Gandapur, chief minister of Khyber Pakhtunkhwa, with whom he discussed specific plans to begin implementation of the CPF.
Copyright Business Recorder, 2025
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