ISLAMABAD: Pakistan and World Bank agreed to collaborate on new, robust and ambitious Country Partnership Framework (CPF) to carry forward country’s reform and development agenda.

Agreement was reached during meeting between Prime Minister Shehbaz Sharif and delegation led by Regional Vice President of World Bank for South Asia Martin Raiser. Welcoming Martin Raiser, PM Shehbaz lauded contribution of World Bank to development of Pakistan.

He appreciated support extended by Bank for building climate resilient infrastructure in wake of 2022 floods in Pakistan. He briefed delegation on reform agenda of government including digitisation of entire tax system, power sector reforms, enhancing per acre yield in agriculture sector, addressing issue of child stunting, etc.

Appreciating Pakistan’s aggressive reforms agenda, Martin Raiser said World Bank was ready to collaborate with country in its journey of transformation of economy aimed at sustainable development. Both sides agreed to engage in long-term, focused partnership under new Country Partnership Framework with an annual review mechanism to assess progress and ensure that results are achieved.  Likewise, energy sector reforms, including increased participation of private sector in transmission and distribution and transition to green energy to make energy cheaper, cleaner and financially sustainable also came under discussion.

Two sides agreed that process for preparation of new Country Partnership Framework will consist of consultations with federal and provincial governments as well as academia, parliamentarians, civil society, development partners and private sector. Economic Affairs Minister Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, Petroleum Minister Dr. Musadik Malik, Minister of State for IT Shaza Fatima Khawaja besides Deputy Chairman of Planning Commission Dr. Jehanzeb Khan among others attended meeting.