Pakistan, ADB Move to Deepen Cooperation on Economic Reforms

Pakistan and the Asian Development Bank have reaffirmed their strategic partnership to advance structural reforms, strengthen development outcomes and support private sector led growth, with a focus on faster project execution and impact driven results.

According to the Ministry of Finance, Finance and Revenue Minister Senator Muhammad Aurangzeb met a high-level ADB delegation led by Country Director Emma Fan and Central and West Asia Department Director General Leah Gutierrez. The minister appreciated ADB’s continued support in budget financing, climate resilience, social sectors and reform initiatives, stressing that future cooperation should be guided by measurable outcomes and clear performance indicators.

Aurangzeb highlighted that delays in project implementation have reduced development impact in the past, particularly in social and climate-related programmes, and called for improved project readiness and streamlined processes.

The meeting reviewed Pakistan’s macroeconomic stabilisation and reform progress under the IMF Extended Fund Facility. The finance minister cited improved credit ratings, successful IMF reviews and approval of the Climate Resilience Facility as signs of growing external confidence. He reiterated the government’s commitment to reforms in taxation, energy, state-owned enterprises, privatisation and public financial management.

He also pointed to rising exports, especially in IT services, higher remittances and a contained current account deficit, while underlining the need for balanced and sustainable growth.

ADB representatives welcomed the reform momentum and said faster project preparation would be key to timely disbursements. They confirmed readiness to provide further budget support aligned with the IMF programme and outlined future engagement in insurance reforms, public-private partnerships, pension reforms and climate resilience.

Both sides agreed to maintain close coordination as Pakistan prepares its development pipeline for 2026 and beyond.