The World Bank has proposed new export-finance products for Pakistan’s Export-Import Bank (EXIM Bank) to help increase trade flows, while discussions with the government focused on boosting investment, exports and private-sector growth.
The proposal was discussed during a meeting between Finance Minister Muhammad Aurangzeb and a World Bank delegation led by Country Director Bolormaa Amgaabazar, according to a statement issued on Friday.
The meeting reviewed progress on Pakistan’s economic reform programme, with both sides discussing investment, jobs, revenue collection, fiscal management, trade, capital markets and institutional reforms.
Aurangzeb stressed the need to move beyond policy design and focus on reforms that can produce clear results for businesses, investors and workers.
The World Bank presented measures under its proposed growth and jobs operation. These include improving the investment climate, reducing regulatory hurdles, expanding access to finance for small and medium-sized businesses and raising productivity.
The discussions also covered reforms to improve SME financing, including a unified insolvency framework and new rules for factoring. The World Bank also proposed steps to increase commercial financing and encourage greater private-sector participation.
Sector-specific reforms were discussed for pharmaceuticals, medical products and agriculture. These include changes to seed registration, deregulation of selected commodities and improving international accreditation to help Pakistani businesses access global markets and procurement opportunities.
Both sides also reviewed the National Tariff Policy and ongoing work on tariff reforms, including the automotive sector. The focus was on improving competitiveness, attracting investment, increasing exports and linking Pakistan more closely with global supply chains.
On revenue reforms, the World Bank is providing technical support for tax policy and the Medium-Term Revenue Strategy. Discussions also covered harmonising GST rules between the federal and provincial governments, improving data sharing and strengthening agricultural income tax systems.
The meeting further reviewed reforms in property taxation, domestic capital markets and public-sector efficiency. The World Bank is supporting efforts to develop a capital-market reform roadmap and improve the use of public resources.
Aurangzeb also highlighted the need to strengthen debt management and domestic bond markets. The two sides discussed financial tools for managing market risks and improving Pakistan’s investor relations.
The World Bank also shared analytical work on Pakistan’s sovereign credit profile and reforms aimed at improving governance, transparency, accountability and the wider business environment.
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