The Asian Development Bank (ADB) has announced an additional $80.75 million to help rebuild flood-hit areas in Sindh. This funding increases ADB’s total commitment to $220 million under the Sindh Emergency Flood Assistance Project (EFAP). The project supports recovery from the devastating 2022 floods in Pakistan. ADB launched EFAP to restore vital infrastructure like drainage, […]
Asian Development Bank (ADB)
ADB funding revives Pakistan railways modernisation push
Pakistan Railways is set for a major revival as the government seeks a $2 billion investment from the Asian Development Bank (ADB) to modernise the Karachi-to-Peshawar Main Line-1 (ML-1) route. Years of underinvestment, safety issues, and stalled Chinese funding left the national railway system struggling. Freight revenue has collapsed, and outdated tracks and signaling systems […]
Pakistan secures $410m boost for Reko Diq copper-gold project
Pakistan has secured a $410 million financing package from the Asian Development Bank (ADB) to support the development of the Reko Diq copper-gold mine in Balochistan, one of the world’s largest untapped deposits. The funding includes $300 million in loans to Barrick Gold and a $110 million partial credit guarantee to cover the equity component […]
ADB approves $8.32 million to boost Punjab irrigation system
The Asian Development Bank (ADB) has approved $8.32 million in financing to help Punjab improve its irrigation infrastructure and increase water availability for farming. This funding will prepare key projects for smoother implementation and quicker fund disbursement. The money will support five priority projects identified by Punjab’s government in 2019, focusing on upgrading irrigation systems. […]
ADB flags funding gaps in Pakistan’s pension scheme
The Asian Development Bank (ADB) has raised concerns over Pakistan’s pension scheme for government employees. In a recent report, ADB said the scheme is attractive but lacks a proper funding mechanism. The bank warned that the growing pension burden puts serious pressure on the national treasury. Reforms are urgently needed to ensure long-term sustainability. The […]
ADB names Gutierrez as regional director
The Asian Development Bank (ADB) has appointed Leah Gutierrez as the new Director General for its Central and West Asia Department, a region that includes Pakistan and ten other countries. Her appointment is effective immediately. In her new role, Gutierrez will oversee ADB’s strategic programs across Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Pakistan, Tajikistan, […]
ADB maintains Pakistan’s growth forecast at 3%, inflation at 5.8%
The Asian Development Bank (ADB) has kept its economic outlook for Pakistan unchanged for the current fiscal year. In its Asian Development Outlook report, ADB maintained Pakistan’s GDP growth forecast at 3%. It also kept the average inflation estimate at 5.8%, showing no revisions since its April 2025 report. This projection contrasts with the targets […]
ADB urges 5% digital tax to boost e-commerce in Pakistan
The Asian Development Bank (ADB) has recommended that Pakistan implement a uniform 5% general sales tax (GST) on all digital transactions. The goal is to promote digital payments, support e-commerce growth, and reduce the inefficiencies linked to a cash-heavy economy. This flat tax rate could also help attract investment in the country’s digital sector. In […]
ADB report highlights weak digital growth, calls for urgent reforms
ISLAMABAD – The Asian Development Bank (ADB) has released a report on Pakistan’s digital ecosystem, stressing the urgent need for investment and reforms to improve connectivity and boost economic output. According to the report, Pakistan’s digital sector contributes only 1.5% to the country’s GDP, highlighting the sector’s underdevelopment. Fixed broadband access remains low at just […]
ADB sounds fiscal alarm: Pakistan’s tax drive needs urgent rethink
The Asian Development Bank (ADB) has cautioned Pakistan that merely expanding the tax net is not enough to improve revenues unless backed by an effective strategy focused on compliance and enforcement. In a policy guide released Tuesday, the ADB highlighted the shortcomings of Pakistan’s current tax reforms and urged a balanced, evidence-based approach. The report […]