Islamabad, May 24, 2021:

Mr. Omar Ayub Khan, Minister for Economic Affairs emphasizes on timely completion of foreign-funded projects

Federal Minister for Economic Affairs Mr. Omar Ayub Khan chaired the meeting of National Coordination Committee on Foreign-Funded Projects (NCC-FFP) on Road * Communication and Finance & Revenue sectors at the Ministry of Economic Affairs today in Islamabad. The meeting was attended by Mr. Mohammad Yaqoob Sheikh Parliamentary Secretary, Secretary EAD and senior officials of Ministry of Communications, National Highway Authority (NHA), Finance Division, Federal Board of Revenue (FBR), State Bank of Pakistan (SBP), Naya Pakistan Housing & Development Authority (NAPHDA) and provincial governments.

In this follow-up meeting, the NCC-FFP reviewed the compliance status of forum’s decisions made in light of previous meetings held on each sector. The Committee discussed 15 ongoing projects of Road & Transport Sector amounting to US$ 6.1 billion and 5 ongoing projects of Finance & Revenue Sector amounting to US$ 1.3 billion funded by ADB, WB, China, Saudi Fund for Development (SFD), Japan & South Korea.

The Minister lauded the efforts of line ministries and departments for smooth implementation of foreign-funded projects in these sectors. While reviewing the progress of road sector, Minister for Economic Affairs directed to expedite implementation of Kalkatak-Chitral Road (N-45) & Malakand Tunnel in Khyber Pakhtunkhwa and Chella Bandi Patika Road in AJK. He also asked the relevant authorities to complete the remaining works of Expressway on Eastbay of Gwadar, N50 & N-70 in Balochistan and Indus Highway in Sindh & KP (N-55)

The Minister for Economic Affairs further highlighted that the government is focusing on reforms in finance & revenue sector. The Committee also reviewed the progress of Chaman and Torkham Border Crossing Points under CAREC Regional Improving Border Services Project. This project is significant for improving regional connectivity and facilitating trade with Afghanistan & Central Asia.

The Minister directed the line departments to strictly follow the timelines for expeditious implementation of the projects. He emphasized that development projects must be executed in timely and efficient manner so that people can benefit from these projects without any delay.