Economic Affairs Secretary Appointed as Executive Director for ADB

The Economic Affairs Secretary, Noor Ahmed, has been appointed as Pakistan’s new Executive Director (ED) at the Asian Development Bank (ADB). He will replace Shahid Mehmood after the latter completes his three-and-a-half-year term this month. Prime Minister (PM) Imran Khan has picked Ahmed out of six nominees for the post, including the Interior Secretary, Yousaf Nasim Khokar; the Power Secretary, Ali Reza Bhutta; the Planning Secretary, Hamid Yaqub Sheikh; the Health Secretary, Amir Ashraf Khawaja; and the Railways Secretary, Habibur Rehman Gilani. ALSO READ 5 Major Banks Wrote Off Rs. 1.24 Billion in 2018 According to a notification issued by the establishment division, the new ED will serve for a tenure of four years with effect from 1 July at the ADB headquarters in Manila, the Philippines. However, considering the COVID-19 restrictions, he will initially assume his charge from Islamabad. Ahmed has had valuable experience for his new appointment due to his long stints in the Ministry of Finance where he had handled important policy matters, the news report added. He has also served as a special Secretary of Finance and as an Economic Affairs Secretary where he dealt with international creditors and donors. There are also reports that the current inter-provincial coordination secretary, Mohsin Chandna, will be appointed as Ahmed’s replacement as the Economic Affairs Secretary. ALSO READ Banks Demand Govt to Withdraw Super Tax The position of ED rotates between Pakistan and the Philippines for two years. The ED represents a constituency of seven countries — Kazakhstan, the Maldives, Marshall Islands, Mongolia, Pakistan, the Philippines, and the Timor-Leste. The ADB continues to be one of the largest lenders to Pakistan. However, lately, it has collaborated with the IMF in matters of approving budget support loans for Pakistan. Recently, the ADB had delayed the approval of a $300 million budget support loan for Pakistan after the IMF’s sixth review of the EFF program was delayed. This will be an immediate challenge for Ahmed as the new ED as he will have to strive to keep the ADB financing lines open.