Power sector reforms bearing fruits: Tarin

Staff Reporter BOL News

01st Oct, 2021. 10:40 am
Shaukat Tarin

ISLAMABAD: Pakistan’s reform process in the power sector, as well as efforts to enhance revenue collection, are bearing fruits, a senior government official said.

During a meeting with Yong Ye, country director of the Asian Development Bank (ADB), who paid a courtesy call on him, Federal Finance and Revenue Minister Shaukat Tarin said that the government is firmly committed to pursue all-inclusive and sustainable economic growth with efficiency, productivity and meritocracy as its hallmarks.

The finance minister also apprised the ADB official about the formation of short-, medium- and long-term plans under the umbrella of the Economic Advisory Council (EAC), which has prepared recommendations to bring structural reforms in 14 sectors of the economy over the period of time.

Tarin also underlined the key features of the Kamyab Pakistan Programme (KPP) to be launched soon. The programme will disburse microcredit to 3.7 million underprivileged households for promoting financial empowerment under various schemes.

The ADB country director briefed the minister about the approval of a vaccine support project for Pakistan worth $500 million, of which $314 million had already been disbursed.

The Country Partnership Strategy for Pakistan has also been approved, he said, adding that under three-year pipeline, $2 billion for Pakistan will be provided for each of the three years.

Moreover, the ADB is looking at various options to support Pakistan through a single window. This will add value to the already existing working equation between Pakistan and ADB, he added.

In his concluding remarks, the finance minister commended the support extended by the Asian Development Bank during the testing times and affirmed to identify priority areas for further strengthening the working equation between the two sides.

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