ISLAMABAD: Federal Minister for Economic Affairs Sardar Ayaz Sadiq chaired the second follow up meeting of National Coordination Committee on Foreign Funded Projects (NCC-FFP) here at the Ministry of Economic Affairs on Monday to review Foreign-Funded Balochistan Sector projects.
The meeting was attended by the Secretary Ministry of Economic Affairs and other senior officials. Minister for Economic Affairs highlighted that Projects in Balochistan are key driver for socioeconomic development, provide access to jobs markets, increase economic mobility and connectivity that enable people to rise out of poverty.
He briefed the committee on the background and purpose of the meeting, and highlighted the problematic and moderately satisfactory projects and issues thereof. He apprised the committee that Economic Affairs Division (EAD) is managing an ongoing portfolio of $34.8 billion foreign funded projects of various sectors of the economy.
Out of total portfolio, $13.5 billion (39%) is considered as problematic. The share of Balochistan projects are $1.1 billion, of which $0.848 billion is rated as problematic. The Minister emphasized the need to address the issues of problematic projects on urgent basis, especially those facing chronic delays so as to pace up disbursements and progress.
He stressed the need for setting deliverables with timelines by the focal Ministries and implementing agencies for better monitoring, and preventing time and cost over-runs. Ayaz Sadiq stressed on the need for regular follow-up weekly meetings by the focal Ministries with executing agencies and stakeholders for due monitoring and prompt resolution of issues.