PM Shehbaz meets WB president on UNGA sidelines

NEW YORK: Prime Minister (PM) Shehbaz Sharif on Thursday appreciated the International Monetary Fund (IMF) and the World Bank (WB) for their support to the government of Pakistan.

According to press statements, PM Shehbaz held different meetings with IMF Managing Director Kristalina Georgieva and WB President Ajaypal Singh Banga on the sidelines of the sidelines of the United Nations General Assembly (UNGA) in New York.

In a meeting with the World Bank president, the prime minister appreciated its continuous support to the government of Pakistan in introducing critical economic reforms and addressing Pakistan’s economic challenges, including poverty reduction and infrastructure development.

PM Shehbaz apprised the president of the government’s steps, involving policy, administrative and organisational reforms, to realize the full potential of the economy and to promote inclusive and sustainable economic growth.

He added that the government has also implemented reforms, particularly in Energy, Finance and Revenue sectors and Pakistan looks forward enhanced support from World Bank for government’s revitalized economic reforms agenda. He stressed upon exploring innovative financing solutions for Pakistan’s development projects, including water management, energy, and human development

The prime minister and the World Bank president reaffirmed their commitment to achieving Pakistan’s development goals, aligned with Vision 2025 and the United Nations’ Sustainable Development Goals.

PM Shehbaz meets IMF managing director

Separately, in a meeting with IMF Managing Director, PM Shehbaz appreciated its technical assistance and capacity-building programs, which have helped strengthen the country’s institutions and improve its economic management.

Appreciating the collaboration with IMF for a successful Staff Level Agreement (SLA) for a 37-month, USD 7 billion Extended Fund Facility (EFF) for Pakistan, the prime minister highlighted the government’s commitment to implementing structural reforms and promoting private sector development.

The IMF managing director expressed the Fund’s support for Pakistan’s efforts and emphasized the importance of maintaining macroeconomic stability and promoting inclusive and sustainable growth.

During the meeting, they also discussed the urgent need to mobilize adaptation financing for climate change.

PM Shehbaz agreed to have the finance minister take up this critical issue with senior management at the IMF during the Annual Meetings in October.

The prime minister and the IMF managing director also agreed to strengthen cooperation between the government of Pakistan and the IMF to promote economic stability and growth.

Meeting with EU President Ursula Von der Leyen

In another meeting, PM Shehbaz met the President of the European Commission, Ursula Von Der Leyen.

A wide array of topics, including bilateral relations, and regional and global issues came under discussion during the meeting, said a statement.

The prime minister congratulated Ms Ursula on her re-election as the President of the European Commission and commended her unwavering commitment to advancing the interests of the European Union.

PM Shehbaz emphasised Pakistan’s dedication to strengthening its relationship with the European Union, underlining the importance of continued dialogue and cooperation in advancing shared goals.

Commenting on the GSP Plus Scheme, the prime minister mentioned that Pakistan had demonstrated consistent political commitment to fully implement the GSP Plus-related international conventions.

This exchange between the prime minister and the EU president underscores the commitment of Pakistan to proactive engagement and collaboration on a global scale on issues of mutual interests.