ISLAMABAD: The Caretaker Minister for Planning, Development and Special Initiatives, Muhammad Sami Saeed, asked the stakeholders to improve the effectiveness of public investment by improving procedures and financing mechanisms.
The caretaker minister for planning was briefed on the Public Investment Management Assessment (PIMA) and Climate-PIMA, and suggested action plan by International Monetary Fund (IMF). The briefing was given during a meeting chaired by the planning minister and attended by secretary Planning Ministry on Monday.
Member Climate Change and Food Security, Chief Growth and Employment at Planning Commission, Joint Chief Economist (Ops), Joint Chief Economist for Macroeconomics at Planning Commission and other relevant stakeholders were present in the meeting.
While emphasizing the need to boost economic growth by investing in the right areas, the planning minister asked the stakeholders to improve the effectiveness of public investment by improving procedures and financing mechanisms. He said that the entire project cycle needs to be aligned with challenges emerging in the economy.
The minister further emphasized the importance of improving the project appraisal as well as the evaluation process. He reaffirmed the ministry’s commitment for leading Pakistan towards a sustainable and resilient future.
During the meeting, the Chief Growth and Employment gave a detailed briefing highlighting the various aspects of PIMA and Climate-PIMA and its action plan. He said that the action plan underscores the importance of a Climate Responsive Public Investment Framework, integrating climate considerations into the planning and execution of all development projects. This approach aligns with the National Adaptation Plan (NAP) and Nationally Determined Contributions (NDCs), signifying Pakistan's dedication to climate-smart policies and practices, he said.
Copyright Business Recorder, 2023
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