Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with Mr. Yingming Yang, Vice President (South, Central and West Asia), Asian Development Bank (ADB), who called on the Minister along with his team, to discuss Pakistan–ADB cooperation, structural reforms, investment, private-sector development and access to finance.
Mr. Yingming Yang congratulated the Finance Minister and the Government on Pakistan’s progress in macroeconomic stabilisation and commended the improvements achieved in fiscal management, the external account and overall economic stability. He also appreciated the positive developments in Pakistan’s sovereign credit ratings, describing the progress as evidence of the country’s continued reform efforts and improved economic fundamentals.
The Finance Minister appreciated ADB’s longstanding partnership with Pakistan and its continued support for the Government’s reform agenda. He highlighted the importance of institutionalising reforms in areas including domestic resource mobilisation, public finance, energy, insurance, pensions and other key sectors to establish a sustainable growth trajectory.
Senator Muhammad Aurangzeb noted that the Government’s focus was now shifting from macroeconomic stabilisation towards sustainable and inclusive growth, with greater emphasis on investment, exports, employment generation and private-sector participation. He welcomed ADB’s expanding engagement beyond sovereign financing, including support for private-sector operations and public-private partnerships.
Access to finance, particularly for small and medium enterprises (SMEs), was discussed as an important component of Pakistan’s growth and export strategy. Senator Muhammad Aurangzeb highlighted the Government’s efforts to expand financing for SMEs and strengthen their capacity to contribute to employment, investment and exports. The importance of integrating SMEs into global value chains and enhancing their competitiveness was also underscored. The meeting also reviewed the insurance transformation programme, public-private partnership initiatives and efforts to improve project readiness and implementation capacity.
The Finance Minister further stressed the need to mobilise greater domestic and private capital, including through innovative financing structures, co-financing and stronger participation of international development and financial institutions. He highlighted the potential for expanding cooperation in infrastructure, transport, clean energy, water resource management, climate resilience and other priority areas.
Mr. Yang reaffirmed ADB’s commitment to supporting Pakistan’s development priorities and noted the strong alignment between the Bank’s strategic priorities and the Government’s reform agenda. He expressed readiness to further support private-sector development, SME value chain financing, and other sectoral priorities areas.
The ADB Vice President highlighted the importance of maintaining fiscal prudence while supporting Pakistan’s transition towards sustainable growth. The discussion also covered pension reforms and institutional strengthening, with the Finance Minister appreciating ADB’s continued technical support. Both sides discussed ongoing and pipeline policy-based operations, recognising their role in supporting key structural reforms and long-term economic transformation.
Senator Muhammad Aurangzeb welcomed ADB’s continued engagement under Pakistan’s Country Partnership Strategy and stressed the importance of aligning future support with the Government’s priorities of private-sector-led growth, export competitiveness, access to finance, infrastructure development, climate resilience and social protection.
The meeting was attended by members of the ADB delegation, including Mr. Yong Ye, Deputy Director General; Mr. Yang Lu, Vice President’s Senior Advisor; Ms. Emma Fan, Country Director; Mr. Hussain Haider, Deputy Country Director; Mian Shoukat Shafi, Principal Country Specialist; Mr. Khayyam Abbasi, Country Program Officer; Ms. Sana Masood, Senior Economist; Ms. Farzana Noshab, Senior Project Officer; Mr. Babur Wasim, Senior Public Sector Specialist; and Ms. Amila Salgado, Country Operations Head. Secretary Finance, Mr. Imdad Ullah Bosal; Secretary Economic Affairs Division, Mr. Humair Karim; Ms. Nasheeta Maryam Mohsin, Executive Director at ADB Headquarters in Manila; and senior officials from the Finance Division were also present.
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