Islamabad November 10, 2021: The Asian Development Bank (ADB) board is expected to approve a US$ 600 million program for country’s social protection during the first week of December, ADB’s Director General Central and West Asia Asian Development Bank, Eugenue Zhukov said Tuesday.
Adviser to the Prime Minister on Finance and Revenue Mr. Shaukat Tarin held a meeting with Director General Central and West Asia Asian Development Bank ADB, Mr. Eugenue Zhukov at Finance Division today. Country Director ADB, Mr. Yong Ye, and senior officers also participated the meeting. Mr. Eugenue Zhukov apprised the Adviser that 80 per cent of the funds allocated for procurement of vaccines have been disbursed and ready to provide additional funds if required.
A L S O || R E A D
Tarin rejects media speculations, says negotiations with IMF on advance stage
The Director General further informed that a $ 600 million program for social protection is expected to be approved by ADB board in the first week of December. ADB has also planned a programme on domestic resource mobilization and is currently providing technical assistance for the purpose, he added. Adviser to the Prime Minister on Finance and Revenue Mr. Shaukat Tarin appreciated the role of ADB in extending support to Pakistan in procurement of vaccines and gave an overview of the current economic situation.
The Adviser emphasized that the Government is committed to introduce reform in various sectors, in the face of various challenges, to address the long outstanding structural issues and to attain sustainable and inclusive growth. The Adviser informed that the Government has taken steps to improve the revenue collection through broadening of 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 programme to disburse it within time, he added. The Advisor commended the support extended by the ADB during testing times and assured of all assistance to fast track slow moving projects and make NDRMF fully functional.
