ISLAMABAD: The International Finance Corporation (IFC) has expressed its commitment to work closely with Pakistan and providing support in key areas such as green energy, data centres, agriculture, and the telecom sector.
Makhtar Diop, Managing Director & Executive Vice President of the IFC during a meeting with Finance Minister Muhammad Aurangzeb on Friday commended Pakistan’s Country Partnership Framework (CPF) with the World Bank, recognising it as one of the best practices globally.
The visit follows the World Bank (WB) Group’s approval of a transformative Country Partnership Strategy, which pledges $20 billion in IFC investments over the next decade to bolster Pakistan’s private sector, averaging $2 billion annually.
Muhammad Aurangzeb reaffirmed the government’s commitment to foster an environment where the private sector leads economic growth, particularly in driving export-led expansion.
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mr. Makhtar Diop, Managing Director & Executive Vice President of the International Finance Corporation (IFC), at the Finance Division, today. pic.twitter.com/7CmPlxdm6K
— Ministry of Finance, Government of Pakistan (@Financegovpk) February 14, 2025
He also briefed the delegation on Pakistan’s macroeconomic stability, mentioning his recent meeting with IMF Managing Director Ms. Kristalina Georgieva in Dubai.
The minister also outlined key structural reforms, including the introduction of agricultural income tax, along with pension reforms and rightsizing initiatives across 43 ministries and 400 attached departments, many of which have been merged or wrapped up.
The Finance Minister highlighted the government’s recent declaration of warehousing as an industry and reaffirmed its commitment to public-private partnerships in infrastructure, IT, data centers, and AgTech.
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He emphasised that agricultural income tax remains a key area of discussion, alongside the broader goal of capital mobilisation, where the private sector must play a leading role.
He also noted that several international partners have publicly acknowledged Pakistan’s growing investment potential. The meeting concluded with both sides reaffirming their commitment to continued collaboration and investment in Pakistan’s economic development.
