Islamabad:
A parliamentary panel was informed on Friday that the IMF advised the government to restrict funds for new 10% development projects and only to prioritize high -imported diets.
The Senate’s Standing Committee on Planning and Development, chaired by Coralain Marri, was informed of the Public Sector Development Program (PSDP) and IMF recommendations.
The Committee was informed that this year, only two percent of funds were allocated to new projects, while 344 diets worth 2.518 rumber of rupees have been completed or closed. The overall burden of waiting projects has been reduced by Rs 2.16 Billions.
The National Highway Authority (NHA) has also presented updates to highway projects. On the Hyderabad – Sukkur (M -6) motorway, work on three sections will start soon. The Executive Committee of the National Economic Council (ECNEC) approved the PC-1 revised on August 7.
The Islamic Development Bank will probably finance two stretches – Naushero Feroz in Ranipur and Ranipur in Sukkur – while talks with the OPEC fund and the Saudi fund are underway to finance the Naushero Feroz -Nawabshah part.
The two remaining sections, from Hyderabad to Tando Adam and Tando Adam in Nawabshah, will be built in public-private partnership mode (PPP).
A Saudi fund mission is expected in Pakistan in October. Regarding the new Karachi – Hyderabad (M -10) highway, the NHA said that the project, estimated at RS254 billion, is under investigation detailed by the National Engineering Services Pakistan (NESPAK).
