National Assembly Committee Urges Strategic Overhaul for Foreign-Funded Projects

The National Assembly Standing Committee on Economic Affairs Division met on Wednesday at Parliament House under the chairmanship of Muhammad Atif (MNA) to address issues related to foreign-funded projects. The session focused on streamlining project execution and tackling delays that stem from procedural inefficiencies and misunderstandings between stakeholders.

During the meeting, the Ministry of Economic Affairs Division (EAD) provided a comprehensive briefing on multilateral projects and discussed issues related to foreign currency transactions and local currency components. Several key challenges were identified, including prolonged procedures for Project Concept-1 (PC-I) approvals, revisions causing time and cost overruns, delays in setting up project accounts, and insufficient understanding of development partner requirements.

The committee highlighted the need for timely establishment of Project Management Units (PMUs) and appointment of dedicated project directors to address human resource-related delays. They also emphasized incorporating land acquisition, local concerns, and security issues into project policy frameworks at both provincial and federal levels.

The committee reached a consensus to request a detailed briefing from the Secretary of Planning to better understand project policies and to develop recommendations aimed at overcoming execution delays. They stressed that national significance projects should not be obstructed by routine procedural hurdles and called for necessary reforms to ensure timely progress.

The EAD committed to improving coordination with provincial and federal governments to accelerate project execution. The committee proposed individual briefings for each multilateral project, inviting executing agencies to discuss project status, issues, and recommendations for speeding up implementation.

Currently, the EAD is overseeing 18 projects with the Asian Development Bank (ADB), 21 with the World Bank (WB), 3 with the Islamic Development Bank (IsDB), 1 with the OPEC Fund, 2 with the Asian Infrastructure Investment Bank (AIIB), and 1 with the International Fund for Agricultural Development (IFAD). These projects cover various sectors, including energy, transport, agriculture, public sector management, finance, and health.

The meeting was attended by Muhammad Atif (MNA) and officials from the Ministry of Economic Affairs Division.