PM Shahbaz Sharif Relies on ADB Support to Stabilize Pakistan’s Economy

PM Shahbaz Sharif Meets Delegates from Japan, China, and South Korea to Address Economic Challenges

On Tuesday, Prime Minister Shahbaz Sharif held a meeting with executive directors from Japan, China, and South Korea to discuss Pakistan’s economic challenges. The delegates expressed their commitment to working closely with Pakistan to address these issues. The PM stated that a staff-level agreement with the IMF would be reach in the next few days. He added that Pakistan is committed to completing the reform agreement with the IMF programs.

During the meeting, Sharif also praised the Asian Development Bank’s (ADB) support across various sectors, including transport, energy, climate change, and the social sector. He expressed his hope that the bank would continue its strong partnership with Pakistan to address macroeconomic challenges. The delegation expressed satisfaction with the government’s efforts to deal with the challenge posed by widespread devastation in the wake of floods.

The PM also issued directives to accelerate the conversion of a public building to solar power. He also expressed irritation with the sluggish progress on the 500KV Thar Matiari transmission line. PM ordered the restructuring of the NTDC and directed authorities to mitigate power outages as much as possible. Additionally, a policy regarding the local manufacturing of solar motorbikes was said to be in the final stages.

The Gilgit Baltistan governor Syed Mehdi Shah also met with the PM to discuss the financial and political situation. The meeting attended by PM advisor on Kashmir affairs and Gilgit Baltistan Qamar Zaman Kaira. The participants reportedly discussed plans to dissolve the GB assembly and hold elections in the region in coexistence with general elections. The current government in the region is led by PTI and will complete its tenure in December 2025. The PM issued directives to release development and non-development funds for the region.

In other news, the PM announced that there will be no load shedding during the month of Ramazan and directed authorities to give attention to mitigating power outages.

Syeda Qandeel Zehra
Syeda Qandeel Zehra
Syeda Qandeel Zehra is a senior content writer with writing expertise in different niches. She is an MBA graduate by qualification and loves to write about diverse topics. Zehra has 3 years of writing experience and currently employed at as a content writer.


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