Islamabad:
A parliamentary panel was told on Friday that the IMF has advised the government to limit funding for new development projects to 10% and only prioritize high importance schemes.
The Senate Standing Committee for Planning and Development, chairman of Quratulain Marri, was informed of the Public Sector Development Program (PSDP) and IMF -Body.
The committee was informed that this year only two percent of the funds were allocated for new projects, while 344 schemes worth RS2,518 trillion were either completed or closed. The total burden of pending projects has been reduced by RS2.16 trillion.
National Highway Authority (NHA) also presented highway projects. On the Hyderabad-Sukkur motorway (M-6), work with three sections begins soon. The Executive Committee of the National Economic Council (ECNEC) approved the revised PC-1 on August 7th.
The Islamic Development Bank is likely to finance two stretches-Naushero Feroz to Ranipur and Ranipur for the SUKKUR-MENS conversations with the OPEC Foundation and the Saudi Foundation are underway to finance Naushero Feroz-Nawabshah part.
The remaining two sections, from Hyderabad to Tando Adam and Tando Adam to Nawabshah, will be built under Public -Private Partnership (PPP) mode.
A Saudi Fund Mission is expected in Pakistan in October. With regard to the new motorway in Karachi-Hyderabad (M-10), NHA said the project, estimated at RS254 billion, undergoes detailed investigative work by the National Engineering Services Pakistan (NSPAK).
