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ISLAMABAD, Jul 25 (APP):World Bank (WB) Vice President for Middle East and North Africa Ousmane Dione on Friday held a meeting with Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal.
The WB Vice President appreciated the minister’s valuable contributions towards improving Pakistan’s economy, a news release said.
During the meeting, Ahsan Iqbal stressed the need to further strengthen collaboration between the World Bank and the Ministry of Planning.
He said the partnership previously established between the Ministry of Planning, Development and Special Initiatives and the World Bank needed to be revitalized to address current economic challenges.
Sharing his vision on economic development, the minister highlighted the shift in the global economic landscape.
He said the world was transitioning from an industrial-based economy to a technology-driven one.
He stressed the importance of adopting an export-led development model as a strategic imperative for Pakistan’s economic progress. “Our target is to take exports from $32 billion to $100 billion,” he said, adding that investor confidence had returned, as evidenced by the Pakistan Stock Exchange surpassing 130,000 points.
The minister informed the WB delegation that Pakistan’s key social indicators were improving due to difficult but necessary policy decisions taken to curb inflation.
He also pointed to the increasing rate of students pursuing higher education and commended the significant role of women in contributing to national development.
Besides, Ahsan Iqbal expressed concern over child stunting, calling it a serious national issue and assuring that the government was undertaking concrete steps to combat it.
During the minister, the minister drew attention to the pressing issue of climate change, urging the World Bank to play a more robust role in mitigating its adverse effects, particularly in developing nations.
Referring to the devastating 2022 floods, he highlighted the disproportionate impact on Pakistan’s underdeveloped regions and stressed the need for stronger climate resilience strategies.
The minister also raised concerns over regional water security, asserting that the international community must ensure India’s compliance with the Indus Waters Treaty. “Weaponizing water is a dangerous trend for global peace,” he warned.
He added that violations of such agreements could potentially trigger a global food and water crisis, emphasizing that water scarcity was a shared global challenge, not just a regional one.
Ahsan Iqbal briefed the WB Vice President on the Ministry’s “5Es” framework — a comprehensive strategy aimed at revitalizing Pakistan’s economy through emphasis on exports, equity, empowerment, environment, and energy.
He reiterated Pakistan’s commitment to sustainable development and expressed hope for continued and enhanced support from the World Bank in achieving national development goals.