World Bank President Urges Pakistan to Focus on Fiscal and Energy Reforms

The World Bank Group President David Malpass has urged Pakistan to focus on the implementation of fiscal and energy reforms to stabilize the economy and lay the foundation for sustained growth. The World Bank Group President met with Minister of Finance and Revenue Ishaq Dar and Minister for Economic Affairs Sardar Ayaz Sadiq. According to a statement issued by the Bank, during the meeting, the president emphasized the importance of predictable economic policies to restore macroeconomic stability and market confidence. Malpass expressed his condolences for the loss of lives and livelihoods due to the devastating floods. He highlighted that Pakistan is among the countries most affected by climate change causing devastating damage to infrastructure and agriculture production. He also reaffirmed the World Bank Group’s ongoing commitment to support urgent needs in health, food, shelter, and cash transfers, as well as accelerating the preparation of new operations to rebuild in a more resilient way. He also highlighted the World Bank Group’s active engagement in raising assistance from bilateral donors.