Daily Times

Federal Minister for Economic Affairs, Sardar Ayaz Sadiq on Monday stressed the need for regular follow-up weekly meetings by the focal Ministries with executing agencies to prompt resolution of issues.

Federal Minister for Economic Affairs Sardar Ayaz Sadiq chaired the 2nd follow up meeting of National Coordination Committee on Foreign Funded Projects (NCC-FFP) at the Ministry of Economic Affairs here to review Foreign-Funded Balochistan Sector projects.

The meeting was attended by Secretary Ministry of Economic Affairs, Ex-DCPC, Chairman GPA, Chairman GDA, DG CAA, representatives of Finance Division, Planning Commission and CEO’s, Managing Directors of all implementing agencies.

Minister for Economic Affairs welcomed the participants and highlighted that Projects in Balochistan are key driver for socioeconomic development, provide access to jobs markets, increase economic mobility and connectivity that enable people to rise out of poverty. The 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 $34.8b foreign funded projects of various sectors of the economy.

Out of total portfolio, $13.5b (39pc) is considered as problematic. The share of Balochistan projects are $1.1b, of which $0.848b 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 and cost over-runs.