ISLAMABAD (TDI): Masatsugu Asakawa, President of the Asian Development Bank (ADB), commended Pakistan’s stringent steps taken to bring about macroeconomic stability to the country.
Asakawa, during a meeting with Federal Minister for Economic Affairs Ahad Cheema, reaffirmed ADB’s commitment to supporting Pakistan’s development and reform efforts.
Asakawa expressed confidence in Pakistan’s reform agenda and praised the government for its tough measures aimed at achieving macroeconomic stability.
He assured continued ADB support in several crucial areas, including Public-Private Partnerships, climate and disaster resilience, Domestic Resource Mobilization, women-inclusive finance, and energy sector reforms.
Minister Ahad Cheema briefed Asakawa on recent government reforms, highlighting efforts to enhance tax revenues, improve energy sector financial sustainability, reduce untargeted subsidies, and expand social protection programs.
In a related development, Asakawa and Secretary of Economic Affairs Kazim Niaz participated in the groundbreaking ceremony for a new ADB office building in Islamabad.
The new building, which will serve as ADB’s Pakistan Resident Mission, is expected to function as a key development and coordination hub, reflecting the evolving needs of the country and the region.
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Kazim Niaz noted that the new office building represents a significant milestone in the enduring partnership between Pakistan and ADB, marking a new chapter in their collaboration since 1966.
The Islamabad facility will be ADB’s fourth such building in the region, underscoring the deep-rooted cooperation between the two entities.
