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December 12, 2019

ADB says Pak economy moving towards stability

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December 12, 2019

ISLAMABAD: Prime Minister Imran Khan has maintained that the present government has focused its energies for the uplift of the poor segments of the population, particularly in the low-cost housing sector.

Talking to Director General Central and West Asia, Asian Development Bank, Werner Liepach, here on Wednesday, the prime minister highlighted the efforts of the economic team of his government for putting the country's economy on stabilisation path.

Werner Liepach lauded the steps taken by the Government of Pakistan for steering the country out of difficult economic condition towards stability. He highlighted that under the Financial Infrastructure Programme, the bank has contributed significantly towards construction of water resources, particularly the barrages in Pakistan.

The prime minister appreciated the ongoing support from the Asian Development Bank in the social protection, agriculture sector, infrastructure development and towards financial efficiency in the country. He observed that there is immense scope for expansion in the existing technical support in the Ehsas flagship programme, low-cost housing and provision of good quality food items to the people through the Utility Stores.

Minister for EAD Hammad Azhar, Adviser to the Prime Minister Dr Abdul Hafeez Shaikh and Country Director Pakistan Resident Mission ADB Xiaohong Yang were also present during the meeting.

Meanwhile, Russian Minister for Trade and Industry Denis Manturov called on Prime Minister Imran Khan separately. The prime minister underlined Pakistan’s commitment to commence a new phase in the relationship with Russia.

The Russian minister conveyed special greetings of President Putin, which were warmly reciprocated by the prime minister. The prime minister recalled his extensive interaction with President Putin on the sidelines of the SCO Council of Heads of State in Bishkek in June 2019, in which the two leaders had a fruitful exchange of views. He hoped that President Putin would visit Pakistan at his earliest convenience.

Noting positive developments in Pakistan-Russia relations, the prime minister expressed the hope that the two sides would further enhance cooperation in the fields of energy, oil and gas, mineral sector, metallurgy, railways, aviation, IT, agriculture and education. He highlighted the improved macro-economic stability and business climate and Ease of Doing Business in Pakistan and noted that there were vast opportunities that the Russian companies could utilise for enhanced trade and investment.

Manturov briefed Imran Khan on the range of subjects discussed during the 6th session of Pakistan-Russia Intergovernmental Commission held earlier during the day. He affirmed Russia’s desire for stronger ties with Pakistan and agreed that vast potential existed for enhancing bilateral cooperation in energy, aviation, industry, railways and agriculture sectors. During the meeting, the importance of leadership exchanges was emphasised. The prime minister stated that he looked forward to his visit to Russia during 2020.