Strategic cooperation between Pakistan and Asian Development Bank further strengthened, with a focus on private sector

Pakistan and the Asian Development Bank (ADB) have agreed to further expand their strategic partnership, with the aim of accelerating economic reforms and strengthening the role of the private sector.

A high-level delegation from the Asian Development Bank called on Finance Minister Muhammad Aurangzeb, during which they discussed Pakistan’s economic direction, reform agenda and development priorities in detail. According to the Ministry of Finance, both sides agreed to accelerate cooperation for reforms and promotion of the private sector.

The Finance Minister, while appreciating ADB’s timely budget support and reform assistance, said that the government’s focus is now on practical results and performance rather than just approvals. He said that the IMF programme has increased global confidence in Pakistan’s reforms, while progress is being made in the energy, tax system, public institutions and privatisation sectors.

According to economic experts, strong cooperation with ADB can play a significant role in improving the investment climate in Pakistan, especially at a time when the government is trying to make the private sector an engine of growth.