ADB appreciates reforms for sustainable economic development
February 28, 2023 12:46 PM
The Asia Development Bank (ADB) on Monday appreciated the reforms introduced by the government and policy decisions taken in important sectors for achieving sustainable economic development.
The appreciation was expressed by a delegation of executive directors of the Asian Development Bank (ADB) that called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, according to a Finance Ministry press release.
The ADB delegation comprised its ED for People’s Republic of China, LiuWeihua; ED for Pakistan, Noor Ahmed ; ED for Japan, Takahiro Yasui ; ED for Korea, Sangmin Ryu; Adviser ADB, Shunsuke Sakugawa; Adviser ADB, Ronald San Huan and Country Director ADB, Yong Ye.
The delegation also exchanged views on climate financing and environment protection and extended the ADB’s all-out support and cooperation to Pakistan.
Special Assistant to the Prime Minister (SAPM) on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, the secretary of finance, and senior officers from the Finance Division participated in the meeting.
On the occasion, the finance minister appreciated the ADB’s role and support in promoting sustainable development in Pakistan.
He informed the delegation about the economic outlook of the country and the challenges being faced by the country, coupled with physical and financial losses due to devastating floods last year.
Dar apprised the delegation that the present government with its pragmatic policy decisions had not only arrested the decline but had also steered the economy toward stability and growth.
He also shared that the government had taken difficult decisions in key sectors, including the energy sector in order to reduce budgetary and current account deficits and increase revenue generation.
The finance minister also informed about the talks held with the International Monetary Fund (IMF) Mission and reiterated the commitment of the government to complete the existing IMF programme and fulfill all the international obligations.
The minister expressed gratitude to the ADB delegation for their persistent support and continuous cooperation.