ADB will provide flood relief support to Pak to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program: Yong Ye

ISLAMABAD, Oct 05 (SABAH): Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with a delegation of Asian Development Bank (ADB) headed by its Country Director Yong Ye at Finance Division on Wednesday. Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha, Asad Aleem, Deputy Country Director ADB, Kiyoshi Taniguchi Principal Economist ADB, Laisiasa Tora, Senior Public Management Specialist ADB and senior officers from Finance Division participated in the meeting.

Ishaq Dar welcomed the delegation and appreciated ADB’s role and support in promoting sustainable development in Pakistan. He apprised the delegation of devastation caused by the recent floods in the country and its impact on the economy of Pakistan. He further stated that Pakistan’s economy faced huge challenges. The present government with its pragmatic policy decisions has not only arrested the decline but has also set the economy in the right direction. Ishaq Dar also shared the priorities of the present government.

Yong Ye, Country Director ADB extended felicitations to Finance Minister on assuming the charge of the office and expressed sympathy on the loss of lives and properties in the devastating floods in Pakistan. He informed the Finance Minister that ADB will provide flood relief support to Pakistan to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program which will be placed before the ADB Board for approval during this month. He also apprised the meeting about ongoing and future projects of ADB in different sectors including social protection, food security and energy sectors.

Regarding the Country Partnership Strategy for Pakistan 2021-25, it was shared that this strategy is in line with the vision of government of Pakistan. In the end, Finance Minister expressed gratitude to ADB delegation for their persistent support and assured them of full cooperation by the government for swift execution of the ongoing and future programs.

Meanwhile Ishaq Dar presided over a meeting on Foreign Exchange challenges and business community, at Finance Division on Wednesday.

Federal Minister for Commerce Syed Naveed Qamar, Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha, Dr. Muhammad Jehanzeb Khan, SAPM on Government Effectiveness, Tariq Bajwa SAPM on Finance, Governor State Bank, Chairman FBR and senior officer attended the meeting. The meeting was apprised on the issues the business community is facing regarding imports and exports.

It discussed the modalities for facilitating business community regarding imports and enhancing exports to boost the business activities in the country.

Meanwhile Ishaq Dar presided over a meeting on gas supply during winter, at Finance Division on Wednesday. Shahid Khaqan Abbasi MNA/ex-PM, Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha, Minister of State for Petroleum Senator Dr. Musadik Masood Malik, Tariq Bajwa SAPM, Secretary Finance, Secretary Petroleum and senior officer attended the meeting.

The meeting was apprised on the supply and demand situation of gas during the winter season. The meeting also discussed modalities for adequate supply of gas for the domestic and industrial consumption and reducing the shortfall in the winter season.