Asad Umar lauds ADB's support in diverse fields

ISLAMABAD: Federal Minister for Planning, Development and Reform Asad Umar on Wednesday lauded Asian Development Bank’s support to the government in various sectors, ARY News reported.

Talking to ADB Central West Asia Department Director General Werner E. Liepach, who called on him in Islamabad, Asad Umar said that apart from the power and communications sector, which receive the bulk of foreign financing, housing, agriculture, tourism, IT and SMEs sectors are being given priority by the government.

During the meeting, matters related to energy sector reform, housing finance, agri-financing and alternative financing mechanisms also came under discussion, said a statement issued by the ministry.

The minister said that we want to make use of the young population, resources and regional trade for growth and prosperity.

He said that the process of approval of development projects and disbursement of funds to such projects had been liberalised over the last 15 months, and the project authorities have been given greater freedom to approve and implement projects, read the statement.

Werner E. Liepach said that ADB will continue to support Pakistan in improving its productivity in the manufacturing and agriculture sectors. He said that Pakistani businesses should strive to be more competitive. Pakistan is a gateway to Central Asia and there is huge potential available through regional integration, said Werner E. Liepach.