Finance Minister Muhammad Aurangzeb has appealed to the World Bank to extend loans for the restructuring of the Federal Board of Revenue (FBR) and to aid areas affected by flooding.
In a recent meeting between the Finance Minister and the World Bank’s country director, the latter congratulated the former on assuming office and expressed willingness to collaborate.
The Finance Minister highlighted his vision for economic stabilization and emphasized the importance of reforms in sectors such as energy and FBR.
Discussions also revolved around securing financing from the World Bank for these reforms and for economic stabilization efforts. It was anticipated that a loan of $2 billion would be sought from the World Bank in the current fiscal year, primarily directed towards FBR reforms and flood reconstruction.
