Makhdum Khusro Bakhtyar, the Minister for Economic Affairs chaired a high-level Portfolio Review Meeting of European Union-Funded projects in Pakistan. During the meeting, on-going and pipeline projects worth of €493 million and €108 million respectively in Pakistan were reviewed.

Islamabad: November 04, 2020

Makhdum Khusro Bakhtyar, the Minister for Economic Affairs chaired a high-level Portfolio Review Meeting of European Union-Funded projects in Pakistan. During the meeting, on-going and pipeline projects worth of €493 million and €108 million respectively in Pakistan were reviewed. The Minister for Economic Affairs appreciated and thanked the humanitarian assistance provided by EU during floods and support for temporarily dislocated persons, and most recently for COVID 19 pandemic. He also appreciated the MoU of Multi Indicative Program (MIP) 2014-2020 for Pakistan amounting € 618 million including Development Cooperation in areas of Rural Development, Good Governance, Human Rights, and Rule of Law in the country.He laid stress to streamline SDGs objectives and European Consensus on Development 2017. The Minister for Economic Affairs underlined the importance for opening up the new bilateral priority areas in the sector of agriculture, industrialisation, digitalization, and climate change for next MIP 2021-2027. He said that Pakistan needed an inclusive economic growth and strengthening SMEs in post-COVID scenario. He underscored the need for increasing On-Budget financing and focusing on concrete, material projects, rather on technical assistance and capacity building with greater involvement of Government of Pakistan. Secretary EAD, while thanking Ambassador of EU, urged to initiate the process for next Joint Meeting and formal consultations for MIP 2021-27 at earliest. The Ambassador thanked the Minister and Ministry for upbeat and assured to renew the efforts for new agenda and commencement of JCM for MIP 2021-27.