World Bank Vice President for Middle East and North Africa Ousmane Dione met with Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal in Islamabad, commending his efforts in guiding Pakistan’s economy towards greater stability and resilience. During the meeting, the minister emphasized the importance of revitalizing the longstanding partnership between the World Bank and the Ministry of Planning to effectively respond to evolving economic demands.
Ahsan Iqbal shared his perspective on how the global economy is moving away from traditional industrial foundations and is increasingly being shaped by technology and innovation. He highlighted that Pakistan must adopt an export-led growth model to meet its long-term economic goals, targeting an increase in exports from $32 billion to $100 billion. Investor confidence, he said, is on the rise, as reflected by the Pakistan Stock Exchange’s recent performance crossing 130,000 points.
The minister briefed the World Bank delegation on social indicators that are gradually improving as a result of difficult but necessary policy actions aimed at stabilizing the economy and reducing inflation. He noted that higher education enrollment is growing and acknowledged the growing contributions of women across economic sectors. He raised the issue of child stunting, labeling it a serious concern and stated that active government intervention is underway to tackle the issue.
In the context of environmental challenges, Ahsan Iqbal urged the World Bank to play a greater role in helping developing nations adapt to the effects of climate change. Referring to the 2022 floods, he explained how climate-related disasters disproportionately affect Pakistan’s less developed areas, calling for stronger global support and investment in climate resilience. He also discussed regional water security, stressing the need for the international community to hold India accountable under the Indus Waters Treaty. He warned that using water as a political tool is a threat to global peace and stability, especially in the context of a growing water and food crisis.
Ahsan Iqbal also introduced the Ministry’s strategic “5Es” framework, which focuses on exports, equity, empowerment, environment, and energy. This approach, he explained, provides a comprehensive roadmap for rebuilding and advancing the national economy. He reaffirmed Pakistan’s commitment to sustainable development and expressed hope for expanded collaboration with the World Bank to achieve long-term national and regional objectives.
