ISLAMABAD: Country Director of the Asian Development Bank (ADB) Young Ye called on Minister for Finance and Revenue Muhammad Aurangzeb, on Thursday, to discuss ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan, said a press release.

ADB Country Director Young Ye congratulated the Minister for Finance and Revenue on staff-level agreement with the IMF and stated that the market had positively responded to the development.

During the meeting, Minister Aurangzeb 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.

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Furthermore, the status of ongoing policy-based programmes, including the Public-Private Partnership (PPP) Programme 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 Minister emphasized the alignment of ADB’s climate operations with Pakistan’s own climate goals and commitments.

The minister outlined the government’s priority areas for achieving macro-economic stability and sustainability, including measures to enhance revenue, SOEs reforms, privatisation, and public-private partnerships.

Concluding the meeting, both parties reaffirmed their commitment to strengthening the partnership between Pakistan and the ADB, with a shared goal of promoting sustainable economic growth and development in the country.

Copyright Business Recorder, 2024