ISLAMABAD: Pakistan’s Caretaker Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar, on Tuesday reviewed the projects funded by the Asian Development Bank (ADB) and the World Bank (WB).
She convened a meeting at the Ministry of Economic Affairs in Islamabad, according to a press release.
In her opening remarks, the minister highlighted 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.
During the meeting, she outlined the purpose of the project’s portfolio review, stressing its objective to address implementation hurdles and meet disbursement targets for the current financial year.
Shamshad Akhtar provided insights into the background and objective of the meeting, shedding light on both successful and problematic projects.
She underscored initiatives such as infrastructure restoration post the 2022 floods, digital payments accessibility, housing finance, border crossing point improvements, adaptive social protection, tax base broadening, and higher education sector enhancement.
Finance Minister Expresses Concern Over Project Delays
Expressing concern over project delays, especially those critically delayed, she vowed to bring these matters to the attention of the Prime Minister’s Office and Provincial Governments for their support in expediting project completion.
The minister also appealed to donors for expertise and technical advice to ensure timely implementation for the benefit of Pakistan’s socio-economic development.
Dr. Shamshad Akhtar echoed the urgency of addressing problematic projects and emphasized 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 ADB and the World Bank.