World Bank calls for reforms to sustain Pakistan’s economic stability

The World Bank urged Pakistan to preserve its economic stabilisation progress by continuing reforms and carrying them out effectively, Business Recorder reported on Friday. The call came in talks between Finance Minister Muhammad Aurangzeb and World Bank and International Finance Corporation officials on moving from stabilisation towards lasting growth and stronger investment.

World Bank representatives said policy measures and accumulated buffers had helped Pakistan withstand external pressures, while Aurangzeb said the government wanted stability to support growth, exports and investment. He cited Pakistan’s recent $3 billion Eurobond sale, with 5-year and 10-year maturities, and discussed maintaining fiscal discipline, improving the investment climate, privatisation and infrastructure financing. Participants also stressed predictable policies and consistent implementation as important to investment and productivity.