ISLAMABAD: The Asian Development Bank (ADB) here on Wednesday reaffirmed its continued support to government’s agenda to implement structural reforms, generate fiscal space and stabilize economy.
The reaffirmation was made by a delegation of Executive Directors and Alternate Executive Directors of ADB that met with Federal Minister for Economic Affairs, Ahad Khan Cheema to discuss the country’s development priorities and macroeconomic reforms.
The delegation is on Pakistan’s visit from October 6 to 12, 2024 for consultations with the government and key stakeholders to better align ADB’s support with government’s priorities.
The visit of ADB’s Executive Directors reinforces the robust collaboration between ADB and Pakistan, aimed at achieving sustainable development goals and enhancing economic stability in the country.
On the occasion Minister Cheema highlighted the strong partnership between Pakistan and ADB, reaffirmed during the recent visit of ADB President Masatsugu Asakawa.
The Minister articulated the government’s commitment to a comprehensive reform agenda, focused on restoring macroeconomic stability and promoting sustainable growth.
He highlighted key reform areas including digitization of the tax system to enhance revenue generation, energy sector improvements, and restructuring of state-owned enterprises (SOEs).
He highlighted the impacts of ongoing reforms such as stable currency, reduced inflation, and a strengthened fiscal position. He also emphasized Pakistan’s priorities for ADB’s support in critical sectors including climate action, infrastructure development, and social uplift.
