Finance Minister Muhammad Aurangzeb on Wednesday reiterated the government’s commitment to privatization, detailing an aim to ensure a business-friendly environment that allows the private sector to take the lead in driving economic growth.
In a meeting with a delegation of World Bank executive directors, the minister reaffirmed that the government “has no business to be in business.” Appreciating the World Bank’s support for Pakistan’s economic and development agenda, he specially thanked the visitors for the $20 billion Country Partnership Framework facilitating the country’s development priorities.
According to a statement issued by the Finance Division, Aurangzeb informed the delegation about his recent visit to Saudi Arabia for the AlUla Conference 2025. He noted the conference had brought together over 30 finance ministers from developing countries to discuss global economic challenges, debt sustainability, and avenues for fostering economic resilience. Sharing key takeaways from the discussions, he emphasized the need for enhanced collaboration among developing economies and the role of multilateral institutions in providing tailored support to emerging markets.
Discussing Pakistan’s economic trajectory, the minister noted the past year’s gains reflected the success of the government’s ongoing reform efforts. He further detailed ongoing structural reforms, focusing on revenue mobilization, energy sector reforms, state-owned enterprise restructuring, and privatization. He emphasized the government’s focus on fiscal discipline through expenditure control and broadening the tax base, highlighting ongoing rightsizing efforts and projected revenue growth.
The delegation appreciated the government’s reform agenda. “Your government has been successful in touching every important aspect of the economy, and things seem to be achievable now if you stay the course,” the statement quoted them as saying. They emphasized that Pakistan’s structural reforms were critical in fostering long-term economic stability and sustainable growth. They also reaffirmed the World Bank’s commitment to continuing its collaboration with Pakistan, supporting priority sectors, and providing the necessary technical expertise to help the country navigate economic challenges.
The meeting concluded with a proposal for a structured framework for development partners to ensure synergy and better coordination. Aurangzeb proposed regular engagements to align projects with national priorities and maximize impact. “We have enough financial support and assistance; what we truly need now is the expertise and technical support to make the most of them,” he said, reiterating Pakistan’s commitment to economic stability, private-sector-led growth, and long-term development.
He also thanked the World Bank delegation for their continued support and expression of confidence in their partnership.