Key Takeaways
- Prime Minister Shehbaz Sharif has ordered a high-level committee to review the World Bank’s fiscal report.
- The committee will consult provinces and stakeholders before considering implementable recommendations.
- The World Bank delegation briefed PM on their analysis of Pakistan's fiscal federalism.
Prime Minister Shehbaz Sharif has directed the formation of a high-level committee to examine the World Bank’s Strengthening Fiscal Federalism in Pakistan report, according to a statement from the Prime Minister’s Office (PMO).
The development follows a meeting between the PM and Bolormaa Amgaabazar, Country Director for the World Bank in Pakistan, who presented their findings on Friday.
During the meeting, the World Bank delegation discussed key points of their report, including analysis of fiscal federalism post-18th Constitutional Amendment and 7th National Finance Commission (NFC) Award, revenues, expenditures, federal-provincial fiscal relations, institutional coordination, and public resource use.
The PM welcomed the delegation and praised Pakistan’s longstanding partnership with the World Bank for its contributions to social and economic development. He expressed gratitude for continued support in the country's development journey.
Shehbaz highlighted the importance of Pakistan’s constitutional federal structure and provincial autonomy, stating that cooperation between federal and provincial institutions is crucial for stability and growth.
The PM directed the committee to review the report while considering recommendations in consultation with relevant stakeholders, including provinces. The aim is to ensure feasible proposals are considered in public interest.
Other attendees at the meeting included Deputy Prime Minister Muhammad Ishaq Dar, Federal Ministers Ahad Khan Cheema and Ahsan Iqbal, Advisor to the Prime Minister Dr Syed Taqdir Shah, and senior government officials.
