PM Abbasi lauds ADBP support for infrastructure projects in Pakistan

ISLAMABAD: Prime Minister, Shahid Khaqan Abbasi on Tuesday lauded Asian Development Bank for Pakistan (ADBP) for its continued support to infrastructure projects and expressed his optimism that the relationship will grow further as Pakistan enters high economic growth.

Country Director Asian Development Bank for Pakistan Ms Xiaohong Yang called on Prime Minister Shahid Khaqan Abbasi at Prime Minister’s office.

Mr Asad Aleem, senior Energy Specialist ADB Pakistan, Ms Farzana Noshaba, Senior Economic Officer, Secretary Economic Affairs Division Mr Arif Ahmed Khan and senior officers were also present during the meeting.

Ms Xiaohong Yang appreciated the progress that the country has made towards overcoming energy-deficit by producing surplus generation. She also noted robust economic growth which she said was projected to reach 5.8% during the next financial year, enhanced revenue generation and structural reforms being undertaken and continued by the present government.

Marked improvement in the power sector has not only brought relief to domestic consumers but is also leading to growth in large-scale manufacturing. She also observed that credit rating of the country has significantly improved during the recent years and the investors were showing keen interest to take benefit of the existing investment opportunities in Pakistan. Pakistan’s return to international financial market was a clear indication of investors’ confidence in country’s economy.

Ms Yang assured the Prime Minister that ADB would continue to provide its financial and technical expertise in all mutually agreed areas. Besides reiterating the continued commitment of ADB in the energy sector, Ms Yang also offered financial and technical support and expertise in the gas sector as well as the introduction of structural reforms in state-owned entities including Pakistan Railways and Pakistan International Airlines.

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