$13.5 billion out of $34.8 billion foreign funded projects are considered as problematic, this was disclosed in a meeting of National Coordination Committee on Foreign Funded Projects (NCC – FFP).
As per the details, Federal Minister for Economic Affairs Sardar Ayaz Sadiq chairs 2nd follow up meeting of National Coordination Committee on Foreign Funded Projects (NCC – FFP) to review Balochistan Projects.
Minister for Economic Affairs welcomed the participants and highlighted that Projects in Balochistan are key driver for socioeconomic development, provide access to jobs, increase economic mobility and connectivity that enable people to rise out of poverty.
Minister, briefed the committee on the background and purpose of the meeting, and highlighted the problematic and moderately satisfactory projects and issues thereof.
He apprised the Committee that EAD is managing an ongoing portfolio of $34.8 billion foreign funded projects of various sectors of the economy. Out of total portfolio, $13.5 billion (39%) is considered as problematic. The share of Balochistan projects are $1.1 billion, of which $0.848 billion is rated as problematic.
Minister for Economic Affairs emphasized the need to address the issues of problematic projects on urgent basis, especially those facing chronic delays so as to pace up disbursements and progress.
He stressed the need for setting deliverables with timelines by the focal Ministries and implementing agencies for better monitoring, and preventing time & cost over-runs.
The Minister for EAD stressed on the need for regular follow-up weekly meetings by the focal Ministries with executing agencies and stakeholders for due monitoring and prompt resolution of issues.
