Finance Minister Ishaq Dar has urged the need of initiatives to boost local economies.

He was addressing the Board of Governors' of the Asian Development Bank's Plenary session on "Opportunities and Challenges for Livable Asian Cities" in Baku.

He said it is imperative to give cities the powers and tools to drive local growth and unlock projects.

He said urban local governments need access to much greater resources to deliver on the tasks with which they have been mandated.

Ishaq Dar said local government-owned revenues need to be increased through reforms of property taxes.

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