ISLAMABAD   -  The Asian Development Bank (ADB) has appreciated the required tough stabilization measures taken by the government to bring about macroeco­nomic stability in the country.

Asian Development Bank (ADB) President Masatsugu Asakawa met with Ahad Cheema, Federal Minister for Economic Affairs Minister, to dis­cuss the country’s development pri­orities and macroeconomic reforms. Mr. Asakawa, lauded the Govern­ment for undertaking comprehen­sive reforms leading to progressive signs of economic recovery. He reaf­firmed ADB’s continued support to Pakistan for complementing its de­velopment and reform agenda.

While appreciating ADB’s long-standing and steadfast support to Pakistan, Minister Ahad Cheema briefed the President on a series of reforms introduced by the Govern­ment. The key reforms include en­hancing tax revenues, improving financial sustainability of energy sec­tor, reduction in untargeted subsides and scaling up social protection.

The President ADB reposed his trust in Pakistan’s reform agenda and appre­ciated the required tough stabilization measures taken by the Government to bring about macroeconomic stability in the country. President ADB assured Pakistan of its continued support in the areas of Public Private Partner­ship, climate and disaster resilience enhancement, Domestic Resource Mo­bilization, promoting Women Inclusive Finance and Energy Sector reforms. Mr. Asakawa together with Secretary Economic Affairs Kazim Niaz attend­ed the ground-breaking ceremony of a new ADB office building in Islam­abad. The new building will house ADB’s Pakistan Resident Mission and when completed is expected to serve as ADB’s development and coordina­tion hub responding to evolving coun­try and regional context. Speaking on the occasion, Kazim Niaz said that the ADB’s own building in Islamabad would mark a new exciting chapter in the enduring and trusted partnership between Pakistan and ADB since 1966. He noted that ADB’s decision to build its building in Islamabad, which would be ADB’s 4th own building in the en­tire region, is yet another manifesta­tion of deep-rooted cooperation.