ADB praises Govt's macro-economic achievements
ISLAMABAD: (APP) The visiting Vice President of Asian Development Bank (ADB) Wencai Zhang on Monday appreciated the government's efforts and reforms strategy, which has resulted in achieving economic stability in the country.
We highly appreciate the government of Pakistan for its efforts and its reforms agenda in achieving macroeconomic stability including reducing fiscal deficit, improving GDP growth and steps taken for the development of infrastructure specially in energy sector, he said while addressing a press conference here at ADB office this afternoon.
He was flanked by Country Director ADB, Werner Liepach and was visiting in connection with ADB's 50 years partnership with Pakistan.
Welcoming China Pakistan Economic Corridor (CPEC), the Vice President ADB said that this project would not only benefit China and Pakistan but also play an important role in generating economic activities beyond the two countries.
He added that this project would also promote intra-regional trade besides connecting various regions for the benefit of the people of the region.
Highlighting his recent visit to Pakistan, the Vice President ADB said that this was his third visit to Pakistan and during his five-day visit, he has visited Karachi and Gwadar port.
He is visiting Pakistan to know and review the development projects and more avenues for cooperation in the field of economic development in the country.
He said he has also met with minister for finance, Muhammad Ishaq Dar, Minister for Planning and Development, Ahsan Iqbal, Minister for Railways, Khawaja Saad Rafique , Chief Minister Sindh, Syed Qaim Ali Shah and senior government officials in Gwadar port and discussed with them ways and means to further enhance cooperation in the field of development specially supply of water and development of infrastructure in the city.
Appreciating the Gwadar port project, he said that this port has great potential for the benefit of the people of Pakistan and the province.
He lauded China for doing a lot for the development of Gwadar port city and its infrastructure development to link Gwadar with other parts of Pakistan.
The CPEC, he said would change the real life of the people of the country through enhanced economic activities, road and railways links and transportation.
Replying to a question, Mr Zhang said that Diamir Bhasha Dam is a mega project for generation of electricity adding that ADB is undertaking feasibility regarding environment with USAID in this regard.
He said that this is a US $10 billion project and requires huge amount and this project could be initiated with the help of other development partners.
He pleaded that ADB would support Pakistan in overcoming its energy shortages whatever it can.