World Bank sees ‘moderate’ progress in Pakistan's tax reforms

ISLAMABAD: The World Bank on Wednesday rated its two loan programmes in Pakistan, worth around $670 million, as ‘moderately satisfactory’ with ‘substantial risk’. The programmes are intended to support macroeconomic stability, improve service delivery and increase the tax-to-GDP ratio to 15pc in five years. In its public disclosure, the Washington-based lending agency rated the overall implementation of the $700 million financing for the Pakistan Public Resources for Inclusive Development — Multiphase Programmatic Approach (PRID-MPA) as ‘moderately satisfactory’. It assigned a substantial…