ISLAMABAD(National Times):Federal Minister for Finance and Revenue, Shaukat Tarin on Thursday said that Pakistan’s reform process in the power sector as well as efforts to enhance revenue collection were bearing fruit.
He was talking to Country Director of Asian Development Bank (ADB), Yong Yew who paid a courtesy call on him here, according to press statement issued by the finance ministry.
He said that the government was firmly committed to pursue all-inclusive and sustainable economic growth with efficiency, productivity and meritocracy as its hallmarks.
Tarin also apprised about formation of short, medium and long-term plans under the umbrella of Economic Advisory Council (EAC) which has prepared recommendations to bring structural reforms in 14 sectors of the economy over the period of time.
The Finance Minister also underlined the key features of the Kamyab Pakistan Program (KPP) to be launched soon, under which microcredit to 3.7 million under-privileged households would be disbursed for promoting financial empowerment under various schemes.
He said, the Finance minister commended the support extended by the Asian Development Bank during testing times and affirmed to identify priority areas for further strengthening the working equation between the two sides.
In his remarks, the Country Director of ADB briefed about approval of vaccine support project for Pakistan to the tune of $500 million, out of which $314 million have already been disbursed.
The Country Partnership Strategy for Pakistan has also been approved, the statement said adding that under the 03-year pipeline, $2 billion for Pakistan will be provided for each of the three years.
Moreover, ADB is looking at various options to support Pakistan through a single window.
The ADB Country Director said that this would add value to the already existing working equation between Pakistan and ADB.