Islamabad:
A parliamentary panel was told Friday that the IMF has advised the Government to restrict funds for new 10% development projects and prioritize only high -importance schemes.
The Senate Planning and Development Committee, chaired by Quratulain Marri, was informed about the Public Sector Development Program (PSDP) and the IMF recommendations.
The committee was informed that this year, only two percent of the funds were assigned for new projects, while 344 schemes worth RS2,518 billion were completed or closed. The general burden of pending projects has been reduced by RS2.16 billion.
The National Highway Authority (NHA) also presented updates on highway projects. On Hyderab-Sukkur (M-6) highway, work will begin in three sections soon. The Executive Committee of the National Economic Council (ECNEC) approved the PC-1 reviewed on August 7.
The Islamic Development Bank will probably finance two sections: fierce noushero to Ranipur and Ranipur to Sukkur, while conversations with the OPEC fund and the Saudi fund are underway to finance the fierce-nawabshah noushero part.
The remaining two sections, from Hyderabad to Tando Adam and Tando Adam to Nawabshah, will be built in public-private association mode (PPP).
A mission of the Saudi Fund in Pakistan is expected in October. Regarding the new Karachi-Hyderabad highway (M-10), NHA said the project, estimated at RS254 billion, is experiencing detailed survey works by national Pakistan engineering services (Nespak).
