ISLAMABAD: The World Bank (WB) on Thursday stressed for removing bottlenecks in projects and expediting the pending actions to ensure smooth implementation of the development projects.
Official sources informed Business Recorder that Minister for Economic Affairs Makhdum Khusro Bakhtyar chaired a high-level portfolio review meeting of the World Bank-funded projects in Pakistan.
The meeting was attended by the deputy chairman Planning Commission, the country director World Bank, and relevant federal and provincial senior officials. Sources revealed that the bank expressed concerns over delay in various projects and urged for removing bottlenecks to expedite implementation of projects.
The World Bank's ongoing portfolio in Pakistan is worth $10.4 billion for 52 projects. The World Bank's financing for federal development projects amounts to US $6 billion, while the bank is providing $1.9 billion to Punjab, $1.9 billion to Sindh, $0.4 billion to Khyber Pakhtunkhwa, and $0.2 billion to Balochistan.
The objective of the three-day portfolio review meetings is to assess the progress of ongoing WB-funded projects, discuss implementation issues, and suggest remedial measures to tackle those issues in a timely manner to ensure smooth implementation of projects and maximise disbursements.
Moreover, pipeline projects are also being discussed to ensure their alignment with national priorities, readiness and timely approval of PC-Is/IIs. On the first day of portfolio review, federal projects related to water and power, road, education, health and social protection sectors were discussed.
On the second day, the projects related to Sindh and Balochistan were discussed, whereas projects of Punjab and the Khyber-Pakhtunkhwa will be reviewed on 11th September, 2020.
During the portfolio review, the Minister for Economic Affairs highlighted the government priorities and stressed upon the participants the need for concerted efforts to achieve the targets defined by the incumbent government.
The minister also directed the concerned authorities to remove the bottlenecks and expedite the pending actions to ensure smooth implementation of the development projects.
The minister emphasised on the quality and timely provision of public services to the general public. The WB vice president Hartwig Schafer also telephonically called Makhdum Khusro Bakhtyar, Minister for Economic Affairs, and discussed the matters of mutual interest.
He assured the minister of the WB's continued support for post-Covid economic recovery and employment creation. The vice president also appreciated the government's efforts for controlling the coronavirus in the country.
Copyright Business Recorder, 2020
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