The Asian Development Bank (ADB) approved $800 million programme to strengthen fiscal sustainability and improve public financial management in Pakistan, according to a statement issued by the Philippines-based lender.<\/p>\n
The statement read that subprogramme 2 of the \u201cImproved Resource Mobilisation and Utilisation Reform Programme\u201d includes a policy-based loan of $300m, and ADB\u2019s \u201cfirst ever policy-based guarantee\u201d of up to $500m, which is expected to mobilise financing of up to $1 billion from commercial banks.<\/p>\n
\u201cPakistan has made significant progress in improving macroeconomic conditions,\u201d said ADB country director for Pakistan, Emma Fan.<\/p>\n
\u201cThis programme backs the government\u2019s commitment to further policy and institutional reforms that will strengthen public finances and promote sustainable growth.\u201d<\/p>\n
The programme supports far-reaching reforms to improve tax policy, administration, and compliance, while enhancing public expenditure and cash management.<\/p>\n
\u201cIt also promotes digitalisation, investment facilitation, and private sector development. These measures aim to reduce Pakistan\u2019s fiscal deficit and public debt, while creating space for social and development spending,\u201d the Manila-headquartered institution said.<\/p>\n
The programme is underpinned by a comprehensive support package \u2014including technical assistance and close coordination with development partners \u2014 designed to help Pakistan build long-term fiscal resilience and stability, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Asian Development Bank (ADB) approved $800 million programme to strengthen fiscal sustainability and improve public financial management in Pakistan, according to a statement issued by the Philippines-based lender. The statement read that subprogramme 2 of the \u201cImproved Resource Mobilisation and Utilisation Reform Programme\u201d includes a policy-based loan of $300m, and ADB\u2019s \u201cfirst ever policy-based […]<\/p>\n","protected":false},"author":1,"featured_media":9747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9746"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9746\/revisions"}],"predecessor-version":[{"id":9748,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9746\/revisions\/9748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/9747"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}