Islamabad: The Asian Development Bank (ADB) has stated that Pakistan’s current government is making policies to deal with the budget and current account deficits, a news source reported. ADB officials added that the government aims to restore the country’s economic growth with these policies.
An ADB report stressed that the government needs to address fall foreign exchange reserves, along with rising debt obligations. It stated that the country’s authorities should continue to increase exports, enhance public enterprises, and consolidate governance. It added that the government should take measures to improve business and regulatory environments in order to attract more investment and strengthen productivity. It assured that ADB will continue its support for Pakistan’s development via the investments framework defined for 2019 to 2021.
ADB has stated that it will help in the use of smart technology and innovative approached for the purpose of sustainable development. The authority added that the country’s current growth prospects will continue to be influenced by projects under China-Pakistan Economic Corridor (CPEC), Central Asia Regional Economic Cooperation Programme (CAREC), and other development initiatives.
