Tarin Lauds ADB’s Financial Support to Pakistan During Testing Times

Finance Minister Shaukat Tarin has highlighted the long relationship of the Asian Development Bank (ADB) with Pakistan and appreciated the role of ADB in extending support to Pakistan during testing times in a meeting with Country Director ADB Yong Ye and Director Public Management ADB Tariq H. Niazi.

The minister gave an overview of the current economic situation and emphasized that the government is committed to introducing reforms in various sectors, in the face of various challenges, to address the long outstanding structural issues and to attain sustainable and inclusive growth.

The minister informed that the government has taken steps to improve the revenue collection through the broadening of the tax base, capturing retail sales, single-window operations as well as track and trace system. Efforts are being made to complete the remaining prior actions under the capital markets development program to disburse it within time, he added.

Tariq H. Niazi briefed the meeting on the progress of various ongoing projects being carried out in Pakistan and also informed of future projects. He apprised that ADB is pursuing a capital market development program, domestic resource mobilization program, social protection development program and public-private partnership support program. ADB is extending full technical support to Pakistan for the successful implementation of these programs, he added.

He appreciated and supported the efforts taken by the government for improvement in social and economic sectors. He also reaffirmed ADB’s commitment to continue support for the implementation of structural reforms in the future.

The meeting was also attended by Secretary Finance, Secretary Economic Affairs Division (EAD) and other senior officers.