Islamabad: A high-level delegation from the Asian Development Bank (ADB), consisting of Executive Directors and Alternate Executive Directors, met with Mr. Ahad Khan Cheema, Pakistan’s Federal Minister for Economic Affairs, to discuss and align on the country’s economic priorities and ongoing macroeconomic reforms.

According to Press Information Department, the ADB delegation, visiting Pakistan from October 6 to 12, 2024, engaged in comprehensive discussions with the government and key stakeholders to tailor ADB’s assistance to better suit Pakistan’s developmental needs. This meeting underscored the deepening partnership between Pakistan and the ADB, which was recently strengthened during the visit of ADB President Masatsugu Asakawa.

Minister Cheema detailed the government’s broad reform agenda aimed at restoring macroeconomic stability and spurring sustainable growth. He outlined critical reforms, including the digitization of the tax system to improve revenue collection, enhancements in the energy sector, and the restructuring of state-owned enterprises. These reforms have begun to yield tangible benefits, such as currency stabilization, inflation reduction, and a stronger fiscal framework.

Furthermore, the Minister emphasized Pakistan’s request for ADB’s support in vital areas such as climate action, infrastructure development, and social upliftment, which are pivotal for the country’s long-term economic health. The ADB delegation expressed unwavering support for Pakistan’s structural reforms, recognizing their importance in creating fiscal space and stabilizing the economy.

This engagement highlights the ongoing commitment of the ADB to support Pakistan in achieving its sustainable development goals and enhancing overall economic stability.