Adoption of reforms agenda must for economic stability

Adoption of reforms agenda must for economic stability: ADB
ISLAMABAD: Pakistan’s economic outlook is positive, however needs adherence to the national economic reforms agenda to overcome the challenges

it has been facing currently, newly appointed Country Director Asian Development Bank (ADB) said here on Thursday.

In a first-ever informal meeting with journalists after assuming the charge, ADB Country Director, Werner Liepach said that Pakistan was facing

challenges of energy shortage, water management, access to finance, supply chain and transport facilities.

ADB country head said the economy of Pakistan was interlinked with global economies so if economies at global level perform well, it would have

positive effects here also.

He said that it does not matter whether Pakistan goes to International Monetary Fund or not, but it will have to adopt a national economic reforms agenda

for better future of economy.

He said the country’s agriculture sector has a lot of potential to flourish due to good climate conditions and sufficient labor force.

“However, it requires proper supply chain and transport facilities to develop further,” Liepach remarked.

He said that ADB in collaboration with Government of Pakistan is working to improve water management for agri-sector development as well as to

avoid floods in the country.