ADB lauds Pakistan's efforts in overcoming energy deficit

Country director discusses energy, economy issues with PM Abbasi

ISLAMABAD: Country Director Asian Development Bank (ADB) for Pakistan Xiaohong Yang called on Prime Minister Shahid Khaqan Abbasi on Tuesday to discuss issues pertaining to energy and economy.

Xiaohong Yang appreciated the progress that Pakistan has made towards overcoming energy-deficit by producing surplus. She also noted robust economic growth which was projected to reach 5.8 per cent during the next financial year and how it managed to enhance revenue generation and structural reforms.



She further said that marked improvement in power sector has not only brought relief to domestic consumers but is also leading to growth in large scale manufacturing. Yang also observed that credit rating of the country has significantly improved during the recent years and the investors were showing keen interest to take benefit of the existing investment opportunities in Pakistan.

Senior Energy Specialist ADB Pakistan Asad Aleem,  Senior Economic Officer Farzana Noshaba, Secretary Economic Affairs Division Arif Ahmed Khan and other senior officers were also present during the meeting.

"Pakistan’s return to international financial market was a clear indication of investors’ confidence in country’s economy," she maintained.

Yang assured the premier that ADB would continue to provide its financial and technical expertise in all mutually agreed areas. Besides reiterating continued commitment of ADB in the energy sector, Yang also offered financial and technical support and expertise in the gas sector as well as introduction of structural reforms in state owned entities including Pakistan Railways and Pakistan International Airlines.



PM Abbasi thanked ADB for continued support to infrastructure projects and expressed his optimism that the relationship will grow further as Pakistan experiences high economic growth.

Earlier, ADB had suggested that Pakistan should emerge as a centre of trade and commerce by removing barriers on its international borders as two continents – Asia and Europe – are rapidly growing.