Pakistan discusses priority areas under CPF with World Bank team
ISLAMABAD: A high-level meeting was held Thursday at the Finance Division between Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb and a senior World Bank delegation led by Anna Bjerde, managing director for operations at the World Bank.
The meeting focused on strengthening bilateral cooperation, reviewing the World Bank's financing portfolio and accelerating the implementation of the newly-launched 10-year Country Partnership Framework (CPF).
Key discussions revolved priority areas identified under the CPF, with a particular focus on climate resilience and population management—two of the six foundational pillars of the framework.
World Bank defers additional $70m IDA credit to Pakistan Raises Revenue
Both parties recognised the CPF as a critical tool for advancing sustainable development and achieving long-term economic stability in Pakistan.
Anna Bjerde commended the Government of Pakistan for its continued commitment to difficult but essential reforms, praising its dedication to sustaining reform momentum in challenging circumstances.
She also lauded Pakistan's political and economic leadership for its proactive stance on climate action and efforts to align economic growth with environmental sustainability.
Minister Aurangzeb reaffirmed the Government of Pakistan's strong commitment to the CPF, stating, 'We are focused on ensuring that climate resilience and sustainable development remain at the heart of our economic planning. The CPF represents an important opportunity, and we aim to implement it with full coordination across key ministries and stakeholders.'
He added that the Ministry of Finance, Ministry of Climate Change, and other relevant bodies are working collaboratively to establish a robust implementation framework.
He requested the World Bank to provide technical leadership and assistance to streamline processes and ensure a prioritised and focused rollout of the CPF.
In response, Bjerde assured the World Bank's full support for Pakistan in achieving the objectives of the CPF.
She expressed the bank's willingness to deepen its engagement across key reform areas including taxation, energy, and social protection. She emphasised particular support for initiatives aimed at girls' education and women empowerment, which she noted are critical to strengthening Pakistan's human capital and economic resilience.
The meeting concluded with a mutual commitment to work closely in the coming months to operationalise the CPF and build a stronger, more resilient partnership for Pakistan's sustainable development.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
11 hours ago
- Business Recorder
Key highlights of Pakistan Economic Survey 2024-25
Finance Minister Muhammad Aurangzeb unveiled the Pakistan Economic Survey 2024-25 on Tuesday, recapping the annual report on the country's economic progress for the outgoing financial year. Pakistan missed its GDP growth target of 3.6% in the outgoing fiscal year, posting a figure of 2.7%, revealed the Economic Survey 2024-25. According to the provisional figures provided by the survey, Pakistan's agriculture sector, industries and services sector registered subdued growth of 0.56%, 4.77% and 2.91%, respectively, during the outgoing fiscal year. Commenting on the global economy, Aurangzeb noted that the global GDP growth in 2023 stood at 3.5%, which was reduced to 3.3% in 2024 and is now projected to be 2.8% according to the latest estimates. Business Recorder presents major highlights of the document that is mostly based on July-March/April of FY25 figures.
Express Tribune
12 hours ago
- Express Tribune
Pakistan's power capacity hits 46,605 MW, idle plant costs burden consumers
The country has witnessed an increase in electricity generation installed capacity during the ongoing financial year 2024-25, placing an additional burden on consumers. The capacity payments have been a result of an increase in electricity generation installed capacity, which touched 46000 MW. The consumers have been paying Rs 2.5 to Rs 2.8 trillion every year, which they pay to idle plants that have not been producing a single unit. According to the Economic Survey 2024-25 released here on Monday, as of July–March FY2025, Pakistan's total installed electricity generation capacity stood at 46,605 MW, reflecting a 1.6 percent increase compared to 45,888 MW recorded during the corresponding period of FY2024. The government said that this increase is primarily attributed to the addition of 2,813 MW through net metering. However, the Government of Pakistan terminated Power Purchase Agreements (PPAs) with several Independent Power Producers (IPPs)—notably HUB Power, Lalpir Power, Pakgen Power, Rousch Power, Saba Power, and Atlas Power—effective October 1, 2024. The percentage shares of generation capacity by source were: hydel (24.4%), nuclear (7.8%), renewable (12.2%), and thermal (55.7%). Although thermal power remains the dominant source, its share has declined in recent years, indicating an increasing reliance on indigenous energy sources. Out of the total electricity generation of 90,145 GWh, the combined share of hydel, nuclear, and renewable sources stood at 53.7 percent, highlighting a significant shift towards more sustainable and environmentally friendly alternatives. The energy sector remains a pivotal driver of Pakistan's economic and industrial development, influencing productivity, trade competitiveness, and quality of life. During the first nine months of FY2025 (July–March), Pakistan continued to face challenges in energy affordability, sustainability, and security. Nonetheless, key reforms, capacity enhancements, and a shifting energy mix signaled gradual progress toward a more resilient and diversified energy landscape. As of March 2025, total installed electricity generation capacity was 46,605 MW, reflecting a continued shift toward cleaner energy sources. Hydel, nuclear, and renewable sources collectively accounted for 44.3 percent of installed capacity—an improvement from previous years—while thermal power's share declined to 55.7 percent. In terms of electricity generation, Pakistan produced 90,145 GWh during July–March FY2025, with 53.7 percent generated from hydel, nuclear, and renewable sources. This transition reflects a positive move toward indigenous and environmentally friendly energy sources. Sectoral consumption patterns show the household sector remained the largest consumer, accounting for nearly half of the country's electricity usage. PPIB continued to play a critical role in enabling private sector participation in power generation and transmission. During the review period, key milestones were achieved, including the operationalization of the 884 MW Suki Kinari Hydropower Project, along with ongoing progress on new solar, wind, and bagasse-based projects. As of March 2025, PPIB had facilitated 88 operational IPPs with a cumulative capacity of 20,726 MW. The government's focus on renewable and indigenous energy is evident from the project pipeline, 84 percent of which comprises clean energy initiatives. In the petroleum sector, domestic production remained constrained, maintaining a high reliance on imports. However, stable international oil prices helped moderate the energy import bill compared to the previous year. Domestic refining capacity utilization remained suboptimal, though efforts to attract investment in refinery upgrades and new capacity continued. On the natural gas front, the depletion of indigenous reserves remains a major concern. With no major discoveries, Pakistan increasingly relied on LNG imports to meet domestic demand, especially in the power and industrial sectors. In response, initiatives are underway to improve energy efficiency and expand LNG supply chain infrastructure. Coal continues to play a significant role, especially through Thar coal-based power projects. The indigenization of coal energy is being actively pursued, with several Thar-based plants contributing to the national grid. Nonetheless, environmental concerns and the need for clean technology adoption remain key policy considerations.
Business Recorder
12 hours ago
- Business Recorder
Here is the full text of Pakistan Economic Survey 2024-25
Pakistan government on Monday launched the Economic Survey for the financial year 2024-25. The country missed its gross domestic product (GDP) growth target of 3.6% in the outgoing fiscal year, posting a figure of 2.7%, revealed the Economic Survey 2024-25, unveiled by Finance Minister Muhammad Aurangzeb, former CEO and president of one of the country's largest banks. Here is the full text of the Economic Survey:
