Pakistan and the Asian Development Bank (ADB) on Monday reaffirmed their strategic partnership to advance structural reforms, improve development outcomes, and support private sector–led growth.
According to a press release issued by the Ministry of Finance, Finance and Revenue Minister Senator Muhammad Aurangzeb held a meeting with a high-level ADB delegation led by Country Director Emma Fan and Central and West Asia Department Director General Leah Gutierrez, along with senior officials from ADB’s Pakistan office.
The finance minister appreciated ADB’s support in budgetary financing, climate resilience, social sector development, and reform initiatives. He said future cooperation should be guided by measurable outcomes and key performance indicators, rather than project approvals alone.
Aurangzeb stressed the need to improve project readiness and execution, noting that implementation delays had reduced development impact, particularly in social and climate-related programmes.
The meeting reviewed Pakistan’s macroeconomic stabilisation and reform path under the IMF Extended Fund Facility. The finance minister cited improved credit ratings, recent IMF reviews, and approval of the Climate Resilience Facility as indicators of external confidence in Pakistan’s reform agenda.
He reiterated the government’s commitment to reforms in taxation, the energy sector, state-owned enterprises, privatisation, and public financial management. The minister briefed the delegation on recent steps, including the privatisation of a small bank, progress on energy sector restructuring, and renewed investor interest in strategic transactions.
Aurangzeb also referred to growth in exports, particularly IT services, rising remittances, and a contained current account deficit, while underlining the need for balanced and sustainable growth. He said the government remained committed to trade liberalisation and competitiveness despite resistance from protected sectors.
Speaking for ADB, Emma Fan welcomed the government’s reform efforts and thanked the finance ministry for cooperation, including during the recent visit of the ADB president. She said faster project preparation and streamlined processes were essential for timely disbursements and development results.
ADB officials confirmed readiness to provide further budget support aligned with the IMF programme and outlined future engagement in areas including insurance sector reforms, public-private partnerships, pension reforms, and continued support for climate resilience and social sector development.
The delegation also highlighted ADB’s increasing focus on private sector development through potential transactions, guarantees, and PPP initiatives, including proposed airport projects. Strengthening ADB’s in-country presence, including the appointment of a new country operations head, was cited as a step toward deeper engagement.
Both sides agreed to maintain close coordination as Pakistan advances its reform agenda under the upcoming country partnership framework and prepares the development pipeline for 2026 and beyond.
