FM appreciates role of ADB for promoting sustainable development in Pakistan

July 20, 2023 (MLN): Finance Minister Senator Mohammad Ishaq Dar on Wednesday appreciated the valuable role of the Asian Development Bank (ADB) in promoting sustainable development in Pakistan, in a meeting with Mr. Young Ye, the country director of the ADB, said a press release issued yesterday.

During the meeting, the Finance Minister apprised the delegation of the current economic outlook of the country and also briefed them about the recently concluded Standby Arrangement (SBA) with IMF.

He also shared the reform priorities of the government in the areas of domestic revenue mobilization, energy sector reforms, and women-inclusive finance.

Timely implementation of the ongoing development projects funded by ADB was also discussed in the meeting.

Ishaq Dar further reiterated the commitment of the government to fulfill all the international obligations well within time and expressed the commitment of the Government to complete the SBA.

Mr. Young Ye appreciated the reforms and policy decisions introduced by the government in important economic sectors for achieving sustainable economic development.

He congratulated FM on reaching the agreement with IMF and related positive developments in Pakistan’s economy since the approval of SBA by the IMF Board that included the outstanding performance of the stock market, improvement in Pakistan’s global ratings, strengthening of the Pak- Rupee vis-à-vis US dollar, etc.

He also extended ADB’s support to Pakistan specifically for enhancing food security in the country and rehabilitation of the flood affectees.

The delegation also thanked the Finance Minister for ensuring the fast-track progress of various development projects being executed by ADB.

In the end, the Finance Minister expressed his profound gratitude to ADB management for their persistent and unflinching support and cooperation with Pakistan on multiple fronts.

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