Islamabad (GNP): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met with Yingming Yang, Vice President for South, Central and West Asia at the Asian Development Bank (ADB), who called on the minister along with his team to discuss Pakistan-ADB cooperation, structural reforms, investment, private-sector development and access to finance.
Yang congratulated the Finance Minister and the government on progress made in macroeconomic stabilization, commending improvements in fiscal management, the external account and overall economic stability. He also welcomed positive developments in Pakistan’s sovereign credit ratings, describing the progress as a sign of sustained reform efforts and stronger economic fundamentals.
The Finance Minister expressed appreciation for ADB’s long-standing partnership with Pakistan and its continued backing of the government’s reform agenda, highlighting the need to institutionalize reforms across domestic resource mobilization, public finance, energy, insurance, pensions and other key sectors to build a sustainable growth path.
Aurangzeb said the government’s focus was shifting from macroeconomic stabilization toward sustainable, inclusive growth, with greater attention on investment, exports, job creation and private-sector participation. He welcomed ADB’s expanding role beyond sovereign lending, including its growing support for private-sector operations and public-private partnerships.
Discussions also touched on access to finance for small and medium enterprises (SMEs), with the minister outlining government efforts to expand SME financing and strengthen their contribution to employment, investment and exports, while stressing the importance of integrating SMEs into global value chains and improving their competitiveness. The meeting further reviewed the insurance sector transformation program, public-private partnership initiatives, and efforts to strengthen project readiness and implementation capacity.
Aurangzeb emphasized the need to mobilize greater domestic and private capital through innovative financing arrangements, co-financing mechanisms, and stronger involvement of international development and financial institutions, pointing to opportunities for expanded cooperation in infrastructure, transport, clean energy, water resource management and climate resilience.
Yang reaffirmed ADB’s commitment to supporting Pakistan’s development priorities, noting close alignment between the bank’s strategic focus and the government’s reform agenda, and expressed readiness to further support private-sector development, SME value chain financing and other sectoral priorities.
He also stressed the importance of maintaining fiscal discipline while supporting Pakistan’s transition to sustainable growth. The discussion additionally covered pension reforms and institutional strengthening, with the minister acknowledging ADB’s ongoing technical assistance. Both sides reviewed current and upcoming policy-based operations, recognizing their role in advancing structural reform and long-term economic transformation.
Aurangzeb welcomed ADB’s continued engagement under Pakistan’s Country Partnership Strategy, stressing the need to align future support with government priorities including private-sector-led growth, export competitiveness, access to finance, infrastructure development, climate resilience and social protection.
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The meeting was attended by ADB delegation members including Deputy Director General Yong Ye, Vice President’s Senior Advisor Yang Lu, Country Director Emma Fan, Deputy Country Director Hussain Haider, Principal Country Specialist Mian Shoukat Shafi, Country Program Officer Khayyam Abbasi, Senior Economist Sana Masood, Senior Project Officer Farzana Noshab, Senior Public Sector Specialist Babur Wasim, and Country Operations Head Amila Salgado. Also present were Finance Secretary Imdad Ullah Bosal, Economic Affairs Division Secretary Humair Karim, ADB Executive Director (Manila) Nasheeta Maryam Mohsin, and senior officials from the Finance Division.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
