According to the bank document, the project aims to "achieve its policy objectives through two pillars. First aims at enhancing the policy and institutional framework to improve fiscal management; and second aims at improving the regulatory framework tofoster growth and competitiveness. The first pillar aims to support reforms aimed at improving credibility of fiscal policy through effective establishing effective institutionsand intergovernmental coordination mechanisms, enhance debt transparency and management, broadening the tax base and reducing distortions in tax policy, improving the financial viability of the energy sector through resolution of circular debt, and reducethe fiscal burden on the budget and contingent liabilities arising from SOEs. The second pillar aims to support reforms to improve the regulatory framework to foster growth and competitiveness. Private investment is severely constrained due to the way GST is administered across the country, an opaque and overregulated business environment, a shallow financial sector, and significant anti-export bias of the national tariff policy.The government has put enhancing private investments and exports at the top of the economic transformation agenda. In this regard the government has committed to harmonizing the GST across the country, significantly improve the regulatory environment related to ease of doing business, implement policies for unlocking digital finance, and reduce the anti-export bias."
Muhammad Waheed, Enrique Blanco Armas, Saiyed Shabih Ali Mohib
Economic Affairs Division
Noor Ahmed, Secretary
Finance Division, Ministry of Finance
Kamran Ali Afzal, Additional Secretary
ACCOUNTABILITY MECHANISM OF WORLD BANK
The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing email@example.com. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx .