ISLAMABAD: Asian Development Bank (ADB) has indicated an additional support of $ 2.5 billion for the next fiscal year, from which $1.5-2 billion can be available in the ongoing calendar year. This was stated by the Finance Ministry following a meeting of the Federal Minister of State for Finance and Revenue, Dr Aisha Ghous Pasha, with the Country Director ADB, Yong Ye, and his team.

Senior officers of the Ministry of Finance participated in the meeting. The Minister of State for Finance and Revenue acknowledged that ADB has always assisted in the pursuance of reform and development agenda in the country.

She acknowledged the all-weather and trusted partnership of the ADB with Pakistan, especially in the areas of energy, education, and fiscal and debt management.

Further, she shared that currently Pakistan is facing various fiscal and monetary challenges but the present government is keenly working on various structural reform measures to bring back the economy on an inclusive and sustainable growth path.

Macroeconomic stability: Fiscal consolidation, policy reforms key to success: ADB

The ADB country director briefed the Minister of State on the ADB’s portfolio and the country strategy. It was shared that ADB is devoted for providing the support for reform agenda of SOEs’ governance and regulations, women inclusive finance sector development and PPP frameworks.

Moreover, the ADB indicated the additional support of $ 2.5 billion for the next fiscal year, from which $1.5-2 billion can be available in the ongoing calendar year. Dr Pasha thanked Ye and his team for their dedication and assured them of full support and speedy implementation of the ongoing programs.

Copyright Business Recorder, 2022