Thursday, 20 February 2025, 02:52:50 pm


 
Pakistan, WB discuss support for sustainable economic growth
February 17, 2025

A delegation of Executive Directors and Alternate Executive Directors from the World Bank Group called on Planning Minister Ahsan Iqbal in Islamabad today.

Talking to the delegation, Planning Minister stated that to boost Pakistan's economy, the government has introduced the Uraan Pakistan 5Es National Transformational Plan, with the first 'E' focusing on an export-led growth strategy.

He underscored the urgency of increasing Pakistan's exports to sixty billion dollars in the next five years.

He outlined the government's commitment to transitioning from fossil fuels to renewable and green energy.

He emphasized the importance of public-private partnerships in driving economic growth and the critical role of women in the national economy. He added that the government is taking measures to ensure that women are actively participating in the economy, as their role is vital for sustainable growth.

He said the international community must think in terms of innovative financial instruments to help the most vulnerable countries cope with the climate change burden. He referenced the devastating floods in 2022 that hit the poorest regions of Pakistan, emphasizing the need for a development-focused approach rather than a myopic one.

The discussions also covered strategic issues related to WBG engagements in Pakistan, signalling continued support for the country's inclusive and sustainable growth.

The visit of the delegation aimed to deepen the collaboration between Pakistan and the WBG, focusing on sustainable and inclusive economic growth.