Aurangzeb reaffirms commitment to economic reforms
Staff Report
ISLAMABAD: Finance Minister Muhammad Aurangzeb has reaffirmed the government’s strong commitment to reforms in taxation, tariff rationalization, restructuring of state-owned enterprises, and regulatory modernization.
He expressed this commitment during a meeting with President of the Asian Development Bank Masato Kanda in Islamabad Wednesday.
During the meeting, the finance minister also reiterated Pakistan’s determination to build climate resilience and strengthen disaster preparedness in the aftermath of recent floods.
Muhammad Aurangzeb also appreciated the Asian Development Bank’s role as a dependable and long-standing development partner.
Highlighting Pakistan’s steady economic progress despite multiple challenges in recent years, the finance minister underlined that Pakistan had successfully stabilized its macroeconomic framework, with inflation declining sharply, a turnaround in the current account, and recent upgrades in Pakistan’s sovereign ratings by international credit agencies, which have helped lower the cost of borrowing.
The Minister acknowledged ADB’s continued and substantial support to Pakistan in recent years, pointing to the Bank’s strong backing for reforms in resource mobilization, women’s financial inclusion, disaster risk financing, and the clean energy transition.
The finance minister extended an invitation for enhanced collaboration under the upcoming ADB Country Partnership Strategy 2026-2035, aligned with Pakistan’s medium-term development priorities.
On this occasion, President of the Asian Development Bank Masato Kanda expressed appreciation for Pakistan’s economic reforms and resilience, commending the progress achieved in stabilizing the economy and advancing structural reforms.
He assured ADB’s continued support in key areas including climate change adaptation, population challenges, infrastructure development, and resource mobilization.
Masato Kanda also reaffirmed ADB’s willingness to partner with Pakistan on its reform agenda, emphasizing that ADB would continue to work closely with the Government of Pakistan to ensure sustained progress and prosperity.
