Director General Central West Asia Department, Asian Development Bank (ADB), Werner E Liepach has said that ADB would continue supporting Pakistan in improving its productivity in the manufacturing and agriculture sectors.
He expressed these views in a meeting with Federal Minister for Planning, Development and Reform Asad Umar here on Wednesday. Secretary Planning Zafar Hasan and senior officials of the ministry were also present on the occasion. Matters related to ADB's support for development projects were discussed. During the meeting, matters related to energy sector reform, housing finance, agriculture-financing and alternative financing mechanisms also came under discussion.
Werner E Liepach said that Pakistani businesses should strive to be more competitive. He said that Pakistan is a gateway to Central Asia and there is huge potential available through regional integration.
Asad Umar said that the process of approval of development projects and disbursement of funds to such projects had been liberalized over the last 15 months, and the project authorities have been given greater freedom to approve and implement projects.
The minister 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. He said, "We want to make use of the young population, resources and regional trade for growth and prosperity." The minister appreciated ADB's support to the government of Pakistan in various sectors.