The World Bank has urged Pakistan to reduce unnecessary federal spending and reform the distribution of financial resources between the federation and provinces. World Bank Country Director Bolormaa Amgaabazar said a new National Finance Commission (NFC) Award is essential to strengthen the country’s fiscal framework. She stressed that fair resource allocation and stronger tax collection […]
World Bank Pakistan
Pakistan and world bank expand climate-focused development ties
Pakistan and the World Bank have agreed to strengthen cooperation on development priorities, economic stability, and climate-related goals. The agreement followed a meeting between Finance Minister Muhammad Aurangzeb and the World Bank Country Director in Islamabad. Moreover, both sides confirmed continued support for structural reforms aimed at improving governance and long-term resilience. During the discussions, […]
World Bank president Ajay Banga visits Gurdwara Panja sahib
World Bank Group President Ajay Banga, accompanied by a delegation, visited the historic Sikh holy site, Gurdwara Panja Sahib in Hasan Abdal, marking the beginning of his four-day official visit to Pakistan. Upon arrival, Banga was warmly welcomed by the District Police Officer and the Deputy Commissioner of Attock, highlighting the significance of his visit […]
World bank presses Pakistan on power sector fix
The World Bank has urged Pakistan to adopt concrete and results-focused power sector reforms before seeking multibillion-dollar financing over the medium to long term. Officials said the lender wants clear actions to reduce losses, improve efficiency, and stabilise a sector that continues to drain public finances heavily. Sources revealed that Pakistan approached the World Bank […]