Dar tells ADB team: Govt committed to completing IMF SBA

ISLAMABAD: A delegation of Asian Development Bank (ADB) led by Country Director Young Ye, called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, at Finance Division, Wednesday. SAPM on Finance Tariq Bajwa, Secretary Finance, and senior officers from Finance Division and ADB team participated in the meeting.

Finance Minister Senator Ishaq Dar welcomed the delegation and appreciated the valuable role of ADB in promoting sustainable development in Pakistan. The Finance Minister apprised the delegation of the current economic outlook of the country and also briefed about the recently concluded Standby Arrangement (SBA) with IMF.

The Finance Minister shared reform priorities of the government in the areas of domestic revenue mobilization, energy sector reforms, and women inclusive finance. Timely implementation of the ongoing development projects funded by ADB was also discussed in the meeting. The Finance Minister further reiterated the commitment of the government to fulfill all the international obligations well within time and expressed the commitment of the Government to complete the SBA.

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Young Ye, Country Director of ADB appreciated the reforms and policy decisions introduced by the government in important economic sectors for achieving sustainable economic development. The Country Director,ADB congratulated FM on reaching the agreement with IMF and related positive developments in Pakistan’s economy since the approval of SBA by the IMF Board that included the outstanding performance of stock market, improvement in Pakistan’s global ratings, strengthening of Pak- Rupee vis-à-vis US dollar , etc. 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 fast track progress of various development projects being executed by ADB.

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

Copyright Business Recorder, 2023