The President of Asian Development Bank (ADB) Mr. Masatsugu Asakawa alongwith a delegation called on Prime Minister Muhammad Shehbaz Sharif today. While appreciating ADB’s long-standing and steadfast support to Pakistan, the Prime Minister informed the visiting President on a series of reforms introduced by the Government. The key reforms include enhancing tax revenues, improving financial sustainability of the energy sector, enhancing climate resilience, reduction in untargeted subsidies and scaling up social protection. The Prime Minister emphasized that he is personally overseeing the progress of these reforms to ensure their successful implementation and long-term impact, underscoring the Government’s commitment to sustainable economic growth and stability. The Prime Minister appreciated ADB’s generous support of over US$ 1.5 billion in response to the devastating floods of 2022. He showed Pakistan’s keen desire to work with the development partners in climate resilience projects including agriculture. President ADB Mr. Masatsugu Asakawa in his remarks appreciated Pakistan’s long association with ADB as one of its founding members. He lauded the Government for undertaking comprehensive reforms and reaffirmed ADB’s continued support to Pakistan. He renewed support in Pakistan in infrastructure development, climate and resilience enhancement, and institutional reforms. Federal Ministers for Planning & Development, Investment & Privatization, Economic Affairs, Finance & Revenue and other senior government officials also attended the meeting. The Prime Minister and President of ADB also witnessed the loan signing of the Sindh Emergency Housing Reconstruction Project amounting to US$400 million and Khyber Pakhtunkhwa Rural Roads Development Project worth US$320 million. Both these projects are part of the ADB’s flood commitments.
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