KARACHI: Pakistan and the Asian Development Bank (ADB) on Monday reaffirmed their strategic partnership to accelerate IMF-backed economic reforms, as Islamabad seeks to sustain macroeconomic stabilization and deepen private-sector-led growth.
The commitment came during a meeting between Finance Minister Muhammad Aurangzeb and a senior ADB delegation in Islamabad, where both sides reviewed Pakistan’s reform trajectory under the International Monetary Fund’s Extended Fund Facility (EFF) and discussed ways to improve development impact and project execution.
Pakistan has been pursuing wide-ranging fiscal, energy and structural reforms under the $7 billion IMF loan program after years of balance-of-payments stress and repeated stabilization cycles. While recent reviews have pointed to improved macroeconomic indicators, the government has stressed that sustained growth will depend on translating policy commitments into implementation, particularly in taxation, state-owned enterprises and the energy sector.
“ADB representatives expressed appreciation for Pakistan’s reform progress under the IMF program and confirmed ADB’s readiness to provide further budget support aligned with the EFF,” the finance ministry said in a statement.
