Talks focus on tax administration, debt markets, and private sector-led growth
Muhammad Aurangzeb on Monday held a meeting with a World Bank delegation to review ongoing economic reforms, including tax administration, public financial management and private sector development initiatives.
The delegation was led by Bolormaa Amgaabazar, and included senior economists and specialists working on fiscal operations, growth, jobs and financial sector development.
Focus on reform implementation and technical support
According to a statement from the Finance Division, the finance minister appreciated the World Bank’s continued engagement in supporting Pakistan’s reform agenda and stressed the importance of close coordination for effective implementation.
Both sides reviewed progress on ongoing reform programs, including public financial management, institutional capacity building, debt management and private sector development initiatives.
The discussions also covered implementation timelines, coordination mechanisms and operational arrangements for reform-linked technical assistance programs.
FBR transformation remains key priority
The finance minister highlighted ongoing efforts to transform the Federal Board of Revenue (FBR), focusing on improvements in people, processes and technology.
He noted progress in automation, digitization, simplified procedures and technology-driven monitoring systems, reiterating the government’s commitment to modernizing tax administration and improving compliance.
The World Bank team provided updates on technical assistance related to the Medium-Term Revenue Strategy (MTRS), Tax Policy Office (TPO) and broader FBR transformation initiatives.
Broader economic reforms discussed
The meeting also covered structural reforms aimed at promoting export-led growth, including regulatory reforms, trade facilitation, access to credit and capital market development.
Officials discussed efforts to deepen domestic debt and capital markets, reduce reliance on bank financing and improve access to international financial markets.
The finance minister emphasized the need to strengthen investor confidence and expand market-based financing channels to support long-term economic stability.
Labour, skills and governance reforms
Participants also reviewed labour market reforms, vocational training, overseas employment opportunities and public sector efficiency measures.
The finance minister stressed aligning skills development with market demand and improving labour market information systems to support job creation and economic competitiveness.
Both sides reaffirmed commitment to continued cooperation to strengthen institutional capacity and support sustainable economic growth in Pakistan.