ISLAMABAD: Prime Minister Shehbaz Sharif informed Asian Development Bank (ADB) President Masatsugu Asakawa about ‘series of reforms’ introduced by government for reviving economy.

Press statement issued here read that speaking to Asian Development Bank President Masatsugu Asakawa who called PM Shehbaz along with delegation he apprised delegation that key reforms included enhancing tax revenues, improving financial sustainability of energy sector, enhancing climate resilience, reduction in untargeted subsidies and scaling up social protection.

PM told ADB President and delegation that he is personally overseeing progress of these reforms to ensure their successful implementation and long-term impact, underscoring government’s commitment to sustainable economic growth and stability.

PM Shehbaz appreciated ADB’s generous support of over $ 1.5 billion in response to devastating floods of 2022. He showed Pakistan’s keen desire to work with development partners in climate resilience projects including agriculture.

Both leaders witnessed loan signing of Sindh Emergency Housing Reconstruction Project amounting to $ 400 million and Khyber Pakhtunkhwa Rural Roads Development Project worth $ 320 million.

Both these projects are part of ADB’s flood commitments During discussions, Masatsugu Asakawa praised Pakistan’s long-standing relationship with ADB as one of its founding members.

Masatsugu Asakawa commended government for its comprehensive reforms and reaffirmed ADB’s continued support for Pakistan. He reaffirmed ADB’s support for infrastructure development, climate resilience and institutional reforms in Pakistan.

Ministers for Planning, Investment and Privatisation, Economic Affairs, Finance and Revenue and senior government officials attended meeting.

Published in The Daily National Courier, September, 17 2024

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