ISLAMABAD – Pakistan and World Bank on Monday discussed the developmentpriorities of the government of Pakistan for next five years and to seekguidance and views of Minister for Economic Affairs.

Minister for Economic Affairs, Makhdum Khusro Bakhtyar held a consultativemeeting with Country Director World Bank Pakistan, Najy Benhassine inMinistry of Economic Affairs, said a press release issued by Ministry ofEconomic Affairs here.

The meeting was aimed to discuss the development priorities of Pakistan forthe next five years and also to appropriately accommodate those prioritiesin the next World Bank Country Partnership Strategy for the period FiscalYear (FY) 2022-26.

The Country Director World Bank informed that the World Bank Group (WBG)has initiated the process of preparing a new Country Partnership Framework(CPF) for Pakistan that would outline its strategic support in the countryfor the next five years starting from FY 2022.

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He shared that WB had started countrywide consultations with keystakeholders, including government, parliamentarians, private sector, civilsociety organizations and development partners to gather diverse views fromstakeholders on Pakistan’s economic and social challenges and the ways inwhich the World Bank Group can support the government in addressing thesechallenges.

During the meeting, the Country Director World Bank shared that the nextWorld Bank Pakistan Country Partnership Framework would broadly focus onfour strategic areas i.e. education, health, environment and growth andimproved governance as an enabler.

The Minister for Economic Affairs highlighted the need to focus more on thebasics where Pakistan critically lags e.g. human capital, povertyalleviation, stunting, revenue mobilization and economic reforms etc.

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He also emphasized on avoiding thin spreading of resources and focusconcentrating resources on priority areas for achieving greater impact.

The Minister for Economic Affairs also shared with the Country Directorthat the government desires to enhance the role of private sector and forthat private sector will be encouraged to take lead in economic developmentof the country.

The meeting was also attended by Secretary, Ministry of Economic Affairs,Operations Officers of World Bank and IFC.

Minister for Economic Affairs, Makhdum Khusro Bakhtyar, thanked the WorldBank Team for extending their continuous support to the Government ofPakistan in achieving sustainable economic development in the country.

The Country Director, World Bank ensured their continuous support toGovernment of Pakistan in achieving the priority development objectives.