ISLAMABAD: The government is keen to devise innovative financing model, develop capital markets and mobilise private sector investments in infrastructure and social sectors, Minister for Finance Asad Umar said on Friday.

In a meeting with a delegation of the Asian Development Bank (ADB), the finance minister said these initiatives will provide fiscal space to the government and boost economic activities in the country.

The ADB delegation comprised of its executive director Shahid Mahmood, Director General Werner E Liepach, Director General (Private Sector Operations) Michael Barrow and Country Director Xiaohong Yang.

The minister also appreciated the proactive approach of Pakistan Resident Mission and suggested to further enhance its role and capacity.

He acknowledged the ADB’s support for development of Pakistan and discussed the priorities areas and new avenues for future interventions.

Mr Mahmood on the occasion reiterated ADB’s commitment to further strengthen and expand its partnership with Pakistan.

Mr Liepach too affirmed ADB’s readiness to scale up its lending to Pakistan including development policy credit and project financing.

The ADB supports Public Private Partnerships (PPP) initiatives in Pakistan which play an important role in bridging the huge infrastructure investment, he said.

Published in Dawn, March 16th, 2019