Muhammad Aurangzeb holds meeting with World Bank Country Director

ISLAMABAD, Nov 26 (SABAH): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, held a meeting with Najy Benhassine, Country Director of the World Bank, and his team at the Finance Division.

The meeting was also attended by the Finance Secretary and senior officers of the Finance Division.

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.

Najy Benhassine appreciated the government’s reform initiatives and assured continued support from the World Bank in key areas identified during the discussions. He reiterated the World Bank’s commitment to assisting Pakistan in addressing economic challenges and achieving its developmental objectives.

The Finance Minister expressed gratitude for the World Bank’s support and reaffirmed the government’s resolve to implement reforms aimed at sustainable economic progress.