ISLAMABAD: Asian Development Bank (ADB) Executive Directors assured continuous support to Pakistan on government’s agenda to implement structural reforms, generate fiscal space and stabilise the economy.

A delegation of Executive Directors and Alternate Executive Directors of the ADB on Wednesday met with Ahad Khan Cheema, Federal Minister for Economic Affairs to discuss the country’s development priorities and macroeconomic reforms.

The delegation is on Pakistan’s visit from 6-12th October 2024 for consultations with the government and key stakeholders to better align ADB’s support with Government’s priorities.

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During the meeting, Cheema highlighted the strong partnership between Pakistan and ADB, reaffirmed during the recent visit of ADB President Masatsugu Asakawa. The minister articulated the government’s commitment to a comprehensive reform agenda, focused on restoring macroeconomic stability and promoting sustainable growth. He highlighted key reform areas including digitisation of the tax system to enhance revenue generation, energy sector improvements, and restructuring of state-owned enterprises (SOEs).

Cheema highlighted the impacts of ongoing reforms such as stable currency, reduced inflation, and a strengthened fiscal position. He also emphasised Pakistan’s priorities for ADB’s support in critical sectors including climate action, infrastructure development, and social uplift.

The visiting delegation reaffirmed its continuous support on government’s agenda to implement structural reforms, generate fiscal space and stabilise the economy. The visit of ADB’s Executive Directors reinforced the robust collaboration between ADB and Pakistan, aimed at achieving sustainable development goals and enhancing economic stability in the country.

Copyright Business Recorder, 2024