ISLAMABAD: Asian Development Bank Vice-President Wencai Zhang has assured the government of its continuned support for the new development and reforms agenda.

“We are committed to deepening our cooperation with the new government and supporting its development agenda to bring prosperity to the people of Pakistan,” Zhang said on Friday after concluding his visit to Pakistan.

He held detailed meetings with Finance Minister Asad Umar, Planning and Development Minister, Khusro Bakhtiar, Education Minister, Shafqat Mehmood and Adviser to Prime Minister on Institutional Reforms, Dr Ishrat Hussain, as well as other government officials and development partners.

He congratulated the new administration on assuming office and noted the government’s “100-day agenda” that prioritises revitalising economic growth, transforming governance and revolutionising social services.

Zhang noted the country’s economic growth momentum in recent years, driven by domestic demand and improvements in security, energy supply, and public infrastructure projects. However, the widening current account and fiscal deficits are key challenges to the economy.

He stressed the importance of economic stability and offered ADB’s support in improving Pakistan’s competitiveness, promote private sector, increase trade openness, and transform the institutions and economy.

Pakistan is an important member of the Central Asia Regional Economic Cooperation (Carec) to which ADB is extending programmatic support to deepen regional economic integration. Ahead of the Carec Ministerial Conference in Ashgabat, Turkmenistan, in November, Zhang said the bank is willing to support Pakistan in developing economic corridors within the framework of Carec and ADB’s Strategy 2030.

Published in Dawn, October 6th, 2018