ISLAMABAD: The Asian Development Bank (ADB) is likely to approve a $600 million program for Pakistan in the first week of December to carry out social protection projects.
This was revealed by Director-General Central and West Asia Department, ADB, Eugenue Zhukov, in a meeting with Advisor to the Prime Minister on Finance and Revenue, Shaukat Tarin, at the Finance Division on Tuesday.
In his remarks, Shaukat Tarin said the government was committed to introducing reforms in various sectors, in the face of various challenges, to address the long outstanding structural issues and to attain sustainable and inclusive growth. He also gave an overview of the current economic situation of Pakistan.
Eugenue Zhukov told the Advisor that 80 percent of the funds allocated for procurement of vaccines had been provided to Pakistan, while the ADB was ready to provide additional funds if required. He said ADB had also planned a program on domestic resource mobilization and had been providing technical assistance for the purpose.
The Advisor to the Prime Minister appreciated ADB for extending support to Pakistan in the procurement of COVID-19 vaccines.
He said the government had taken steps to improve the revenue collection through the broadening of the tax base, capturing retail sales, single-window operations as well as track and trace system. Efforts are being made to complete the remaining prior actions under the capital markets development program to disburse it within time, he stated. He assured the DG ADB of making the National Disaster & Risk Management Fund fully functional.
