PM Shehbaz lauds World Bank’s support on Indus Waters Treaty dispute – Business & Finance

Prime Minister Shehbaz Sharif on Thursday lauded the World Bank’s principled support for Pakistan’s stance on the Indus Waters Treaty, reiterating Islamabad’s commitment to upholding international law and resolving regional issues through dialogue.

PM Shehbaz remarks came during a meeting with Ousmane Dione, World Bank Regional Vice President for the Middle East, North Africa, Afghanistan, and Pakistan (MENAAP), in Islamabad, where both sides discussed bilateral cooperation and reaffirmed their commitment to Pakistan’s long-term development goals, read a statement released by the Prime Minister’s Office (PMO).

“PM Shehbaz appreciated the World Bank’s principled support for Pakistan’s legitimate position in light of India’s unilateral and illegal actions to undermine important international agreements like the Indus Waters Treaty,” read the statement.

The prime minister expressed his sincere gratitude to the World Bank for its long-standing partnership with Pakistan.

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“He particularly thanked World Bank’s President, Ajay Banga and former World Bank Country Director for Pakistan, Najy Benhassine, for their key role in advancing the new Country Partnership Framework (CPF) for Pakistan,” read the statement.

The prime minister appreciated the strategic role of the CPF in Pakistan’s development priorities, especially in the areas of energy, human resources, climate change and governance reforms.

The Prime Minister thanked the World Bank for its assistance during the devastating floods of 2022, which helped Pakistan to launch immediate relief activities and initiate reconstruction and rehabilitation measures.

Meanwhile, Ousmane Dione thanked PM Shehbaz Sharif for the warm hospitality extended to him during his visit to Pakistan. He reiterated the World Bank’s commitment to further deepen and broaden Pakistan’s long-standing partnership and cooperation in key sectors of the economy.

As per the PMO’s statement, Dion commended Pakistan’s ongoing macroeconomic recovery and commended the government for leading the country towards fiscal stability and sustainable growth.

The World Bank official particularly praised the reform agenda of the current administration, describing the strong leadership of PM Shehbaz as crucial in advancing institutional reforms, restoring investor confidence, and promoting inclusive economic growth.

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