Wednesday, February 8

Country Director of Asian Development Bank Mr. Yong Ye pays a courtesy call on Federal Minister for Finance and Revenue Mr. Shaukat Tarin

Islamabad, September 30, 2021 (PPI-OT):Mr. Yong Ye, Country Director of Asian Development Bank (ADB) paid a courtesy call on Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, at the Finance Division today. While briefing the Country Director of ADB, the Finance Minister stated that Pakistan’s reform process in the Power sector as well as efforts to enhance revenue collection is bearing fruit.

The Government is firmly committed to pursue all-inclusive and sustainable economic growth with efficiency, productivity and meritocracy as its hallmarks. The Finance Minister also apprised about formation of short, medium and long-term plans under the umbrella of Economic Advisory Council (EAC) which has prepared recommendations to bring structural reforms in 14 sectors of the economy over the period of time.

The Finance Minister also underlined the key features of the Kamyab Pakistan Program (KPP) to be launched soon. The program will disburse microcredit to 3.7 million under-privileged households for promoting financial empowerment under various schemes. In his remarks, the Country Director of ADB briefed about approval of vaccine support project for Pakistan to the tune of $500 million, out of which $314 million have already been disbursed.

The Country Partnership Strategy for Pakistan has also been approved. Under 03-year pipeline, $2 billion for Pakistan will be provided for each of the three years. Moreover, ADB is looking at various options to support Pakistan through a single window. This will add value to the already existing working equation between Pakistan and ADB, he added. In his concluding remarks, the Finance Minister commended the support extended by the Asian Development Bank during testing times and affirmed to identify priority areas for further strengthening the working equation between the two sides.

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