ISLAMABAD, Jul 31 (APP):Prime Minister Muhammad Shehbaz Sharif on Friday said Pakistan's constitutional federal structure, provincial autonomy, and cooperation and consultation between the federation and the provinces were of fundamental importance for the country's development and stability. The prime minister made these remarks while talking to a World Bank delegation led by its Country Director for Pakistan, Bolormaa Amgaabazar, who called on him here, a PM's Office news release said. …
PM reaffirms Pakistan’s commitment to reforms, sets up high-level committee to review WB’s fiscal federalism report
ISLAMABAD, Jul 31 (APP):Prime Minister Muhammad Shehbaz Sharif on Friday said Pakistan’s constitutional federal structure, provincial autonomy, and cooperation and consultation between the federation and the provinces were of fundamental importance for the country’s development and stability.
The prime minister made these remarks while talking to a World Bank delegation led by its Country Director for Pakistan, Bolormaa Amgaabazar, who called on him here, a PM’s Office news release said.
Welcoming the delegation, the prime minister lauded Pakistan’s longstanding partnership with the World Bank and appreciated the institution’s role in the country’s socio-economic development. He thanked the World Bank for its continued support to Pakistan’s development journey.
The prime minister said the government was vigorously pursuing implementation of its reforms agenda to put the economy on the path of stability and sustainable growth.
The prime minister termed the World Bank’s analysis, along with the comparative review in light of international experiences, commendable, and said such studies played a key role in providing useful guidance for the policymaking process.
He directed the constitution of a high-level committee to comprehensively review the report. The committee will examine the recommendations presented in the World Bank report in consultation with relevant stakeholders, including the provinces, keeping in view Pakistan’s constitutional and federal structure, so that workable proposals could be considered in the public interest.
During the meeting, the World Bank Country Director presented the report titled “Strengthening Fiscal Federalism in Pakistan” and briefed the prime minister on its contents.
The World Bank delegation shared key findings of the report, highlighting the evolution of fiscal federalism in Pakistan following the 18th Constitutional Amendment and the 7th National Finance Commission (NFC) Award, along with its analysis and observations on revenues, expenditures, federal-provincial fiscal relations, institutional coordination, and utilisation of public resources.
The delegation also presented a number of policy recommendations aimed at promoting fiscal discipline, effective utilisation of resources, improved service delivery, and enhanced coordination between federal and provincial institutions.
Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, federal ministers Ahad Khan Cheema and Ahsan Iqbal, Prime Minister’s Adviser Dr Syed Tauqir Shah, Minister of State Bilal Azhar Kayani, and senior government officials also attended the meeting.
