Islamabad, In a meeting aimed at bolstering economic development in Pakistan, the Country Director of the Asian Development Bank (ADB), Mr. Young Ye, met with the Minister for Finance and Revenue, Mr. Muhammad Aurangzeb, at the Finance Division. The discussion focused on the ongoing cooperation between Pakistan and ADB and explored avenues for future initiatives to support Pakistan’s economic goals.

According to Press Information Department, Mr. Young Ye congratulated Minister Aurangzeb on the recent staff level agreement with the International Monetary Fund (IMF), noting the positive market response to this development. Minister Aurangzeb expressed gratitude for ADB’s enduring support, particularly highlighting the bank’s Policy Based Lending (PBL) efforts, which have played a crucial role in mitigating the economic impacts of the pandemic and recent floods in Pakistan.

The meeting delved into the progress of ongoing policy-based programs such as the Public Private Partnership (PPP) Program and the Climate and Disaster Resilience Enhancement Program (CDREP). Recognizing ADB’s significant contribution to climate resilience and sustainable development across Asia and the Pacific, Minister Aurangzeb underscored the importance of aligning ADB’s climate operations with Pakistan’s national climate goals and commitments.

The Minister outlined the government’s priority areas for achieving macro-economic stability and sustainability, which include enhancing revenue generation, reforming state-owned enterprises (SOEs), privatization, and fostering public-private partnerships.

The conclusion of the meeting saw both parties reaffirming their commitment to a strengthened partnership between Pakistan and ADB. They shared a mutual goal of promoting sustainable economic growth and development in Pakistan, reflecting a joint dedication to the country’s economic prosperity.