Islamabad: The Country Director of the Asian Development Bank (ADB), Young Ye, called on federal finance and revenue minister Mohammad Aurangzeb, at Finance Division, today to discuss ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan.
ADB Country Director, Young Ye, congratulated finance minister on staff level agreement with the IMF and stated that the market has positively responded to the development.
During the meeting, federal minister expressed appreciation for the support provided by ADB over the years.
He particularly highlighted ADB’s assistance through Policy Based Lending (PBL) to mitigate the impacts of the pandemic and floods. Furthermore, the status of ongoing policy-based programs, including the Public Private Partnership (PPP) Program and the Climate and Disaster Resilience Enhancement Program (CDREP) were also discussed.
Acknowledging ADB’s pivotal role in promoting climate-conscious programs across Asia and the Pacific, the federal minister emphasized the alignment of ADB’s climate operations with Pakistan’s own climate goals and commitments.
The federal finance minister outlined government’s priority areas for achieving macro-economic stability and sustainability, including measures to enhance revenue, SOEs reforms, privatization, and public-private partnerships.
Concluding the meeting, both parties reaffirmed their commitment to strengthening the partnership between Pakistan and ADB, with a shared goal of promoting sustainable economic growth and development in the country.
