ADB to provide USD 6 billion in three years to Pakistan
Oct 02, 2021
Islamabad [Pakistan], October 2 : Amid the testing time for Pakistan's economy, the Asian Development Bank (ADB) is set to provide USD 6 billion over a three-year period to the country, local media said.
This announcement was made by the country director of the ADB, Yong Ye, who called on Pakistan Finance Minister Shaukat Tarin on Friday, Samaa TV reported.
Finance Minister Shaukat Tarin said the Pakistani government was committed to pursuing inclusive, efficient, and sustainable economic growth.
According to the Samaa, Tarin told the ADB director that country's reform in the power sector and efforts to boost revenue collection had started yielding positive results.
The finance minister said that the Economic Advisory Council had prepared recommendations to bring structural reforms in 14 sectors of the national economy. He added that short, medium and long-term plans had been formulated to achieve this objective.
Last month, Pakistan Muslim League-Nawaz (PML-N) President and Leader of Opposition Shehbaz Sharif had slammed the Pakistan Tehreek-e-Insaf (PTI) government saying that the ruling party has drowned the country's economy under debts.
He also lashed out at the Imran Khan government over the "unprecedented level" of inflation in the country and added that during its three-year tenure, it did not build a "single penny" project, The Express Tribune reported.
"Five million people have been rendered unemployed by the incumbent government, it has become impossible for the poor to afford two square meals a day," Shehbaz Sharif had said while addressing a National Assembly session in Islamabad.
