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Pakistan briefs ADB on prior actions to secure IMF loan program

ISLAMABAD:- The Pakistan has also shared its economic stabilization program with the Asian Development Bank (ADB) and reiterated that the country will complete IMF loan program successfully.

A delegation of Executive Directors of Asian Development Bank (ADB) called on Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, at Finance Division, today.

The delegation comprised Mr. LiuWeihua, ED for People’s Republic of China, Mr. Noor Ahmed, ED for Pakistan, Mr. Takahiro Yasui, ED for Japan, Mr. SAngmin Ryu, ED for Korea, Mr. Shunsuke Sakugawa, Adviser ADB,Mr. Ronald San Huan, Adviser ADB and Mr. Yong Ye, Country Director, ADB.

SAPM on Finance Mr. Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Secretary Finance senior officers from Finance Division participated in the meeting.

Finance Minister Senator Mohammad Ishaq Dar welcomed the delegation and appreciated ADB’s role and support in promoting sustainable development in Pakistan. The Finance Minister informed the delegation about the economic outlook of the country and challenges being faced by the country coupled with physical and financial losses due to devastating floods last year.

Finance Minister Senator Ishaq Dar apprised the delegation that the present government with its pragmatic policy decisions has not only arrested the decline but has also steering the economy towards stability and growth. He also shared that the government has taken difficult decisions in key sectors including energy sector in order to reduce budgetary and current account deficits and increase the revenue generation. The Finance Minister also informed about the talks held with IMF Mission and reiterated the commitment of the government to complete the existing IMF program and fulfill all the international obligations.

ADB delegation appreciated the reforms introduced by the government and policy decisions in important economic sectors for achieving sustainable economic development. The delegation also exchanged views on climate financing and environment protection. The delegation extended ADB’s all out support and cooperation to Pakistan.

In the end, Finance Minister expressed gratitude to ADB delegation for their persistent support and continuous cooperation.

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