A two-member Asian Development Bank (ADB) mission led by Llyod Powell, Reform Implementation Specialist, called on Adviser to the Prime Minister on Finance Dr Salman Shah at the Finance Ministry here, on Thursday. The meeting reviewed the policy and structural reforms introduced by the government to reform financial and non-banking sector.
Llyod said that the Government of Pakistan's desire to reform these sectors is consistent and positive. However, the pace of development and implementation in case of non-banking sector is slow, while it is reasonably robust in the banking sector. Referring to the role of Securities and Exchange Commission of Pakistan (SECP), the mission stressed the need to create a good database to track all transactions by the SECP and its further capacity-building, including devising a transparent system of accountability in which government institutions are monitored for achieving the desired results.
Salman Shah appreciated the ADB mission for its suggestions to improve the banking and non-banking sectors. Minister of State for Finance Omar Ayub Khan, Finance Special Secretary Tanvir Ali Agha and other senior officials of Finance and Economic Affairs Division also participated in the meeting.-PR
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