Mohsin Siddiqui (Chief Reporter)

Minister for Finance & Revenue, Mr. Muhammad Aurangzeb, held a meeting with the Country Director of the Asian Development Bank (ADB), Mr. Young Ye, at the Finance Division today. The purpose of the meeting was to discuss ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan.

During the meeting, ADB Country Director, Mr. Young Ye, extended congratulations to Minister Aurangzeb on the staff level agreement with the IMF, noting the positive market response to this development.

In response, Minister Aurangzeb expressed appreciation for ADB’s support over the years, particularly highlighting the assistance provided through Policy Based Lending (PBL) to mitigate the impacts of the pandemic and floods.

Furthermore, the meeting addressed the status of ongoing policy-based programs, including the Public Private Partnership (PPP) Program and the Climate and Disaster Resilience Enhancement Program (CDREP).

Recognizing ADB’s significant role in promoting climate-conscious programs, Minister Aurangzeb emphasized aligning ADB’s climate operations with Pakistan’s own climate goals and commitments. He outlined the government’s priority areas for achieving macro-economic stability and sustainability, including revenue enhancement, reforms in State-Owned Enterprises (SOEs), privatization, and fostering public-private partnerships.

In conclusion, 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.