More Than 50% Foreign Funded Projects May Lapse Funds

The National Coordination Committee on Foreign-Funded Projects (NCC-FFP) was informed on Thursday that out of 27 foreign-funded projects amounting to $3.1 billion 14 are problematic, unsatisfactory and may lapse foreign funds.

Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar chaired the meeting of the National Coordination Committee on Foreign-Funded Projects (NCC-FFP) in Sindh Province at the Ministry of Economic Affairs today in Islamabad. Mr. Mohammad Jahanzeb Khan Deputy Chairman Planning Commission, Noor Ahmed, Secretary Economic Affairs Division, Cheif Secretary, Government of Sindh, senior officials of line departments of Sindh Government, representatives of PM’s Office, and Finance Division attended
the meeting.

The chair was informed that 27 projects amounting to US$ 3.1 billion in communications, transport, energy, water & irrigation, education, health and a public-private partnership with the support of development partners including the Asian Development Bank and World Bank are under implementation.

The forum was apprised about the Karachi Mobility, Sindh Agricultural Growth, and Sindh Response to Stunning projects are problematic and facing huge challenges in course of implementation. It was also told that out of 27 foreign-funded projects, 14 projects have been ranked as problematic and unsatisfactory. The development partners have also expressed their serious concerns about the slow implementation of the projects from time to time. Some of the projects may lapse foreign funding if not utilized within stipulated timelines.

The Minister expressed displeasure to the line departments of the Sindh Government for the slow implementation of foreign-funded projects in the province. He said that these projects are significant to achieve the SDGs goals in the country, so there is a dire need to put them on the fast track.

The Minister also directed the line departments to indicate timelines for resolution of impediments and expedite the completion of these Projects of public importance. He said that projects related to stunt growth and the agricultural sector must be executed in a timely and efficient manner.