Govt committed to undertake reforms for macroeconomic stability

ISLAMABAD   –   Minister of State on Finance and Revenue Dr Aisha Ghous Pasha here on Tuesday reiterated the firm dedication of the government in undertaking the needed reforms to achieve macroeconomic stability, build fiscal resilience and stimulate economic recovery.

She was talking to Country Director World Bank (WB) Najy Benhassine during a meeting which was also attended by senior officers from Finance Division, according to press statement issued by finance ministry. The minister, while informing the progress on prior actions of Resilient Institutions for Sustainable Economy Programme-II (RISE-II) to the Bank team, stated that the government was cognisant of the importance of this programme and reiterated the commitment of the government with regards to bringing fiscal reforms in the country.

She said, the federal government would approach the provinces to expedite progress on pending prior actions. The minister of state also appreciated the commitment of World Bank, the statement added. On the occasion, Benhassine apprised the minister on World Bank funded Development Policy Financing (DFP), RISE-II, and stated that this programme was aimed at bringing fiscal and economic reforms in the country.

Meanwhile, Federal Minister for Finance and Revenue Mr Miftah Ismail held a meeting with Dr Wan Farissan Bin Wan Suleiman and Mr Noor Ahmed, Executive Directors of Asian Development Bank (ADB) at Finance Division. Country Director ADB Mr Yong Ye, Secretary Finance and senior officers of Finance Division participated in the meeting.

Welcoming the Executive Directors of ADB, Finance Minister Mr Miftah Ismail said that the ADB has always been a great support for Pakistan in pursuing reform agenda and implementing various development projects in the country. He acknowledged the longstanding partnership and firm commitment of Asian Development Bank as a major development partner for bringing critical reforms in priority areas including energy, education, fiscal and debt management and socio-economic development. The finance minister further gave an overview of the economic challenges present government inherited and shared that the present government is working on various structural reforms measures to bring back the economy on an inclusive and sustainable growth path. He showed full confidence in overcoming these economic challenges.

Dr Wan Farissan Bin Wan Suleiman and Mr Noor Ahmed shared that ADB is committed to provide the support for reform agenda in infrastructure, social and financial sectors in Pakistan. They reaffirmed Bank’s commitment to continue support for strengthening reform programmes and implementation of country’s development agenda including fiscal management, building resilience and boosting competitiveness and development of private sector. While concluding, Finance Minister Mr Miftah Ismail thanked the visiting guests and ADB team for their continued support and assured them firm commitment of the government of Pakistan in speedy implementation of the ongoing programmes.

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