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ISLAMABAD: A delegation of executive directors of the Asian Development Bank (ADB) called on Federal Minister for Finance and Revenue Ishaq Dar on Monday, said a press release.

The delegation comprised Liu Weihua, ED for People’s Republic of China, Noor Ahmed, ED for Pakistan, Takahiro Yasui, ED for Japan, S Angmin Ryu, ED for Korea, Shunsuke Sakugawa, Adviser ADB, Ronald San Huan, Adviser ADB and Yong Ye, Country Director, ADB. SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Secretary Finance senior officers from Finance Division participated in the meeting.

The Finance Minister welcomed the delegation and appreciated the ADB’s role and support in promoting sustainable development in Pakistan. The minister informed the delegation about the economic outlook of the country and challenges being faced by the country coupled with physical and financial losses due to devastating floods last year.

Dar apprised the delegation that the present government with its pragmatic policy decisions has not only arrested the decline but has also steering the economy towards stability and growth.

Floods deteriorate FY23 economic outlook: ADB

He also shared that the government has taken difficult decisions in key sectors including the energy sector in order to reduce budgetary and current account deficits and increase revenue generation.

The finance minister also informed about the talks held with IMF Mission and reiterated the commitment of the government to complete the existing IMF programme and fulfil all the international obligations.

The ADB delegation appreciated the reforms introduced by the government and policy decisions in important economic sectors for achieving sustainable economic development.

The delegation also exchanged views on climate financing and environment protection. The delegation extended the ADB’s all-out support and cooperation to Pakistan. In the end, the Finance Minister expressed gratitude to the ADB delegation for their persistent support and continuous cooperation.

Copyright Business Recorder, 2023

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