Overview
- Finance Minister Muhammad Aurangzeb, in Monday meetings in Islamabad, pressed the World Bank and the Asian Infrastructure Investment Bank on tax reform support and long-term project funding.
- The World Bank team reported progress on a medium-term revenue plan, a dedicated Tax Policy Office, and transformation of the Federal Board of Revenue, Pakistan’s tax authority.
- Officials emphasized automation and digitization to simplify procedures and improve taxpayer services, with the goal of building durable capacity inside government.
- Aurangzeb thanked AIIB for guarantees that helped Pakistan issue a Panda Bond, a yuan-denominated bond sold in China, which AIIB said drew a strong market response and favorable pricing.
- Talks with AIIB covered a multi-year financing pipeline and projects in transport, energy transition, water, urban services, digital links, and climate resilience, as the government seeks to deepen local capital markets and rely less on bank lending.