Ishaq Dar apprises ADB on country’s current economic outlook

ISLAMABAD: Finance Minister Ishaq Dar on Wednesday apprised the Asian Development Bank (ADB) delegation of the current economic outlook of the country, besides briefing about the recently concluded Standby Arrangement (SBA) with International Monetary Fund (IMF), ARY News reported.

According to a statement, a delegation of Asian Development Bank (ADB) led by Country Director Young Ye, called on Finance Minister Ishaq Dar.

The SAPM on Finance Tariq Bajwa, Secretary Finance, and senior officers from the Finance Division and ADB team participated in the meeting.

The finance minister welcomed the delegation and appreciated the valuable role of ADB in promoting sustainable development in Pakistan

Ishaq Dar shared the reform priorities of the government in the areas of domestic revenue mobilization, energy sector reforms, and women-inclusive finance.

He said that timely implementation of the ongoing development projects funded by ADB was also discussed in the meeting.

The minister further reiterated the commitment of the government to fulfil all the international obligations well within time and expressed the commitment of the Government to complete the SBA.

Young Ye, appreciated the reforms and policy decisions introduced by the government in important economic sectors for achieving sustainable economic development.

The Country Director, ADB congratulated Ishaq Dar on reaching the agreement with the IMF and related positive developments in Pakistan’s economy since the approval of SBA by the IMF Board that included the outstanding performance of the stock market, improvement in Pakistan’s global ratings, strengthening of Pak- Rupee.

He also extended ADB’s support to Pakistan specifically for enhancing food security in the country and rehabilitation of the flood affectees.

The delegation also thanked the finance minister for ensuring the fast-track progress of various development projects being executed by ADB.

In the end, Ishaq Dar expressed his profound gratitude to ADB management for their persistent and unflinching support and cooperation to Pakistan on multiple fronts.