Islamabad, In a significant meeting today, Mr. Martin Raiser, the Regional Vice President of the World Bank for South Asia, along with a delegation, met with Prime Minister Muhammad Shehbaz Sharif to discuss the future of Pakistan’s economic and development strategies. The discussions focused on initiating a robust and ambitious new Country Partnership Framework to advance Pakistan’s reform agenda and developmental goals.
According to Press Information Department, the meeting in Islamabad included the signing of a joint communique that will lay the groundwork for a long-term partnership under the new framework, which will be reviewed annually to ensure effective progress and results. The new strategic alliance aims to transform and sustainably develop Pakistan’s economy over the next decade, focusing on key areas such as structural economic reforms, human capital development, energy sector advancements, and climate adaptation.
The World Bank has expressed readiness to support Pakistan in implementing significant reforms across various sectors. These include digitization of the tax system, power sector reform, enhancements in agriculture, and initiatives to combat child stunting. Additionally, the framework will emphasize increasing private sector involvement in energy distribution and transitioning to greener energy solutions.
Both parties highlighted the importance of collaborative efforts to handle increased water scarcity and climate-related challenges, ensuring that Pakistan’s infrastructure becomes more climate resilient. The preparation of the new framework will involve consultations with multiple stakeholders, including federal and provincial governments, academia, parliamentarians, civil society, development partners, and the private sector.