ISLAMABAD: Pakistan and the World Bank are working on measures to increase exports, investment and private-sector activity. The global lender has also proposed export-finance products for the Export-Import Bank of Pakistan (EXIM Bank) to support additional trade flows.
Finance Minister Muhammad Aurangzeb met a World Bank delegation led by Country Director Bolormaa Amgaabazar on Friday. They reviewed economic reforms and discussed priorities for improving growth, jobs and investment.
Focus on Investment and Exports
The meeting covered the World Bank’s proposed growth and jobs operation. The plan focuses on improving the investment climate, expanding access to finance and raising productivity.
The World Bank also proposed steps to reduce regulatory barriers and improve financing for small and medium-sized enterprises. Officials discussed a unified insolvency framework and new factoring legislation under the Prime Minister’s Access to Finance initiative.
The delegation also discussed reforms in pharmaceuticals, medical products and agriculture. These measures include better seed registration and deregulation of selected commodities. They also aim to improve international accreditation and help Pakistani businesses enter global markets.
Trade and Fiscal Reforms
Aurangzeb and the World Bank reviewed Pakistan’s National Tariff Policy and ongoing tariff reforms. The discussions covered the automotive sector and measures to improve competitiveness, productivity and exports.
The officials also discussed GST harmonisation, agricultural income tax and property-tax reforms. These measures aim to improve revenue collection and strengthen coordination between federal and provincial authorities.
The meeting also covered plans to deepen domestic capital markets and expand financing options for businesses. Officials discussed debt management, domestic bond markets and public-sector efficiency.
Aurangzeb stressed the need to turn reform plans into practical measures. The discussions also focused on creating measurable improvements in investment, exports, employment and the overall business environment.
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