ISLAMABAD: The Country Director of the Asian Development Bank (ADB), Young Ye, met with Minister for Finance & Revenue, Muhammad Aurangzeb, on Thursday and discussed ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan.
Both sides reiterated their commitment to strengthening their partnership, with a shared objective of promoting sustainable economic growth and development in the country, stated a press statement released by the finance ministry.
The meeting also touched upon the progress of ongoing policy-based programs such as the Public-Private Partnership (PPP) Program and the Climate and Disaster Resilience Enhancement Program (CDREP).
Young Ye commended Minister Aurangzeb on reaching a staff-level agreement with the International Monetary Fund (IMF) and noted the positive market response to this development.
Minister Aurangzeb expressed gratitude for ADB’s support over the years, particularly highlighting their assistance through Policy Based Lending (PBL) to mitigate the impacts of the pandemic and floods.
Recognizing ADB’s significant 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 also outlined the government’s priority areas for achieving macroeconomic stability and sustainability, which include measures to enhance revenue, reforms for State-Owned Enterprises (SOEs), privatization, and fostering public-private partnerships.
