ADB reaffirms support for Pakistan’s reform agenda

Asian Development Bank has reaffirmed continued support to Pakistan for complementing its development and reform agenda. The commitment was expressed by ADB President Masatsugu Asakawa during his meeting with Minister for Economic Affairs Ahad Cheema in Islamabad today. The President ADB lauded the government for undertaking comprehensive reforms leading to progressive signs of economic recovery. While appreciating ADB's long-standing and steadfast support to Pakistan, Ahad Cheema briefed the President on a series of reforms introduced by the government. The key reforms include enhancing tax revenues, improving financial sustainability of energy sector, reduction in untargeted subsides and scaling up social protection. The President of ADB reposed his trust in Pakistan's reform agenda and appreciated the required tough stabilization measures taken by the Government to bring about macroeconomic stability in the country. The President of ADB assured Pakistan of its continued support in the areas of Public Private Partnership, climate and disaster resilience enhancement, Domestic Resource Mobilization, promoting Women Inclusive Finance and Energy Sector reforms. The President also attended the ground-breaking ceremony of a new ADB office building in Islamabad. Source: Radio Pakistan