IFC explores Pakistan’s economic policies in $20bn private sector investment push

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On Thursday, a delegation of an International Finance Corporation (IFC) and officials of the Finance Division launched policies, which aims to advance industry -led economic growth, which is focusing on export -based expansion. , Because Pakistan has advanced the World Bank’s efforts to get $ 20 billion in private. Sector Investment Program.

The visit has followed its kind of contract with the World Bank for the first time, with the impact of climate change over the next decade, as well as increasing the private sector, such as $ 20 billion on development issues. The plan to lend has also been focused.

This IFC affiliation is more than $ 20 billion made by WB through the IDA (privileged finance window) and IBRD. Take the total investment of the WB group to $ 40 billion over the next decade.

“IFC is committed to working with Pakistan and providing help in key sectors like green energy, data centers, agricultural supply chain improvement, telecom sector, and digitalization,” “Managing Director of IFC and IFC Managing Director. Executive Vice President Makatar Divpe said. A high level meeting in the Finance Division.

During a meeting with Finance Minister Mohammad Aurangzeb and his team, the DIOP led a delegation of top IFC officials, Pakistan’s Country Partnership Framework (CPF) with the World Bank, with the World Bank. Appreciated, and called it a global practice.

Halela Chekh Rohu, Regional Vice President (MCT Region), Khwaja Iftab Ahmed, Regional Director (Middle East, Pakistan, and Afghanistan), private Bannahsin, Country Director (World Bank Pakistan), with IFC Executive Executive. Zation Sheikh, and Zation Sheikh, and Zation Sheikh were also present. Country Manager (IFC Pakistan and Afghanistan).

He noted that private sector stakeholders in Pakistan have expressed confidence in the government’s economic policies and they are making progress.

The World Bank Group included Executive Director (Pakistan), Finance Division Secretary Finance, Aidullah Basel and senior officers along with Dr. Syed Tauqir Hussain Shah, Executive Director (Pakistan).

The Finance Minister highlighted the recent announcement of the warehouse as an industry by the government and confirmed his affiliation with the Public Private Partnership (PPPS) in infrastructure, IT, Data Centers and Egg Tech.

Speaking to the news a day earlier, Dr Shah of IFC Pakistan said that the country’s contribution to the recently approved $ 40 billion for the next decade has been the framework of Pakistan’s reform agenda over the past two years. There is a huge expression of confidence by the group in economic stability, and MDIFC. Get closer to a decade is further confirming that confidence.

Shah added that the IFC has a very strong investment pipeline for Pakistan, but it is subject to constant economic and political stability in the country.

During the meeting, Aurangzeb mentioned his recent meeting with IMF Managing Director Kristina Georgia in Dubai, Aurangzeb informed the IFC delegation about Pakistan’s economic stability.

The Finance Minister also outlined key structural reforms, including the introduction of agricultural income tax – along with an extraordinary step in the country, with pension reforms and rights measures in 43 ministries and 400 affiliated departments, many of which integrate. Or are wrapped.

Last month, the World Bank, which is currently committed to about $ 17 billion for Pakistan for 106 projects, said the financial space for promoting the private sector and making public investment in key areas. Policy and institutional reforms will also be important for enhancing.

Since 1950, the World Bank has provided more than $ 60 billion to Pakistan. However, the new program represents a long -term strategy than previous contracts, which usually covers four to six years.

The country has tampered on the brink of economic crisis for many years, and economists and international financial institutions have demanded major economic reforms.

Pakistan is currently under the $ 7 billion International Monetary Fund bailout, which requires the country to increase public income and advance external sources of financing, most of which of China and the Gulf countries debts. It comes from.