Islamabad: The Asian Development Bank has reiterated its commitment to support Pakistan in increasing investment through the private sector, public-private partnerships and guarantee schemes, while the government has expressed its commitment to further accelerate the reform process.
According to the Ministry of Finance, a high-level ADB delegation met with Finance Minister Muhammad Aurangzeb to discuss budget support, reform initiatives, and cooperation in the social and environmental sectors. The Finance Minister said that global confidence in reforms under the IMF programme has been restored and progress is being made in the energy, tax, public institutions, and privatisation sectors.
He further said that a positive trend is being seen in exports, IT services, and remittances, while preparations are underway for more budget support in line with the ADB and IMF programmes.
ADB officials announced increased cooperation in insurance, pension reforms, and public-private partnerships, describing them as priority sectors. The two sides also agreed to continue joint work in the climate resilience and social sectors.
Economic analysts say that ADB’s increased cooperation is a positive sign for Pakistan’s long-term economic stability and promotion of private investment.