Islamabad: In a move to cement economic and development partnerships, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb hosted a dinner in Islamabad on September 15, 2024, honoring Mr. Masatsugu Asakawa, President of the Asian Development Bank (ADB), and his delegation. The gathering aimed to discuss ongoing reforms and future collaborations between Pakistan and the ADB.
According to Press Information Department, the event was attended by key figures including Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Federal Minister for Petroleum Mr. Mussadiq Masood Malik, and other senior officials. Minister Aurangzeb highlighted the significant role of the ADB in supporting Pakistan’s infrastructure, energy, education, and social sectors. He praised the bank’s assistance and discussed the government’s recent initiatives aimed at enhancing the governance and financial sustainability of State-Owned Enterprises (SOEs).
Mr. Asakawa expressed appreciation for Pakistan’s reformative efforts, particularly in the context of SOE reforms and their importance to the country’s economic framework. He reassured ADB’s continued support for these initiatives, which are pivotal for Pakistan’s fiscal stability and economic revitalization.
Additionally, Minister Aurangzeb urged the ADB to increase engagement with the private sector in Pakistan, emphasizing its crucial role in driving future economic growth and development. He also highlighted recent achievements under the Policy-Based Guarantee and the Reko Diq guarantee, facilitated through the sovereign window, marking significant strides in financial management and transparency.
The ADB President commended Pakistan’s commitment to transparency and sustainability in financial practices and reaffirmed the bank’s commitment to supporting Pakistan’s development goals. The discussions underscored a mutual interest in fostering inclusive growth, innovation, and climate action.
The dinner marked a platform for open dialogue and set the stage for further collaboration between Pakistan and the ADB on key developmental projects.