Islamabad: PakistanThe U.S. Ministry of Economic Affairs said on Thursday that 43 percent of foreign-funded projects were problematic.
The ministry said 43 percent of these projects, valued at around $35 billion, were problematic – either not progressing well or unable to deliver desired results. dawn Newspaper reported.
Addressing the review meeting of the National Coordinating Committee on Foreign Funded Projects, the ministry noted that it was managing an ongoing portfolio of such projects worth $34.8 billion across various economic sectors, of which $15 billion (43 per cent) ) are considered problematic.
An official statement released by the ministry noted that federal energy projects account for about $3.3 billion, out of $2.3 billion (or about 70 percent) assessed as problematic.
No wonder the energy sector is emerging as a challenge to the country’s stability, an official said, referring to over 17 per cent losses and 10 per cent lower recoveries in the power sector and 10-17 per cent system losses in the gas sector. Is. , local media reported.
Economic Affairs Minister Sardar Ayaz Sadiq chaired the review meeting which was attended by heads of implementing agencies, concerned ministers and representatives of provincial governments.
Opposing the current situation, Sadiq emphasized the impact of energy sector projects on the overall economy and the public at large.
Energy was one of the most important inputs for economic development to sustain industrial and commercial activities, he said, adding that it was emerging as a challenge.
The Minister urged the need to address the problematic projects related to chronic delays in projects. Sadiq, along with other officials in Pakistan, set goals with better surveillance and timelines to prevent and more efficiency.
Regular follow-up monthly meetings proposed by Economic Affairs Secretary mian asad hayauddin For monitoring and quick resolution of issues.
The review meeting is taking place amid the economic crisis in Pakistan, for which the country is seeking the help of the International Monetary Fund.International Monetary Fund,
Earlier, talks between the Pakistan government and the IMF were held in Doha, where the organization wanted Pakistan to take measures for the revival of the stalled $6 billion program to control its fiscal deficit.
against this backdrop, Shahbaz Sharif It has raised fuel prices for the third time in recent weeks and removed fuel subsidies to reduce the fiscal deficit and garner significant support from the IMF.
The ministry said 43 percent of these projects, valued at around $35 billion, were problematic – either not progressing well or unable to deliver desired results. dawn Newspaper reported.
Addressing the review meeting of the National Coordinating Committee on Foreign Funded Projects, the ministry noted that it was managing an ongoing portfolio of such projects worth $34.8 billion across various economic sectors, of which $15 billion (43 per cent) ) are considered problematic.
An official statement released by the ministry noted that federal energy projects account for about $3.3 billion, out of $2.3 billion (or about 70 percent) assessed as problematic.
No wonder the energy sector is emerging as a challenge to the country’s stability, an official said, referring to over 17 per cent losses and 10 per cent lower recoveries in the power sector and 10-17 per cent system losses in the gas sector. Is. , local media reported.
Economic Affairs Minister Sardar Ayaz Sadiq chaired the review meeting which was attended by heads of implementing agencies, concerned ministers and representatives of provincial governments.
Opposing the current situation, Sadiq emphasized the impact of energy sector projects on the overall economy and the public at large.
Energy was one of the most important inputs for economic development to sustain industrial and commercial activities, he said, adding that it was emerging as a challenge.
The Minister urged the need to address the problematic projects related to chronic delays in projects. Sadiq, along with other officials in Pakistan, set goals with better surveillance and timelines to prevent and more efficiency.
Regular follow-up monthly meetings proposed by Economic Affairs Secretary mian asad hayauddin For monitoring and quick resolution of issues.
The review meeting is taking place amid the economic crisis in Pakistan, for which the country is seeking the help of the International Monetary Fund.International Monetary Fund,
Earlier, talks between the Pakistan government and the IMF were held in Doha, where the organization wanted Pakistan to take measures for the revival of the stalled $6 billion program to control its fiscal deficit.
against this backdrop, Shahbaz Sharif It has raised fuel prices for the third time in recent weeks and removed fuel subsidies to reduce the fiscal deficit and garner significant support from the IMF.