Finance Minister Expresses Concern Over Delay in Donor-Funded Projects

Caretaker Federal Minister for Finance Dr Shamshad Akhtar convened a meeting today at the Ministry of Economic Affairs to review the Federal Portfolio of projects funded by the Asian Development Bank (ADB) and the World Bank (WB).

In her opening remarks, the minister underscored the critical role these projects play in socio-economic development, offering access to job markets and fostering economic mobility to lift people out of poverty.

She outlined the purpose of the portfolio review, emphasizing its objective to address implementation bottlenecks and meet disbursement targets for the current fiscal year. She provided insights into the background and purpose of the meeting, shedding light on both successful and problematic projects. She highlighted initiatives such as infrastructure restoration post the 2022 floods, border crossing point improvements, digital payments accessibility, housing finance, tax base broadening, adaptive social protection, and higher education sector enhancement.

Expressing concern over project delays, particularly those critically delayed, the minister pledged to bring these issues to the attention of the Prime Minister’s Office and Provincial Governments for their support in expediting project completion. She also appealed to donors for expertise and technical assistance to ensure timely implementation for the benefit of Pakistan’s socio-economic development.

The minister echoed the urgency of addressing problematic projects and stressed the need for clear deliverables with timelines to prevent time and cost overruns.

The meeting was attended by senior officials from the relevant ministries, project directors, and representatives from the Asian Development Bank and the World Bank.

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