Sindh govt forms company for WB housing project

CEO nominated as per donor’s direction; BoD to be nominated soon, CM tells World Bank delegation

KARACHI:

Soon after the World Bank (WB) considered extending a Rs110 billion loan for the construction of houses for flood victims, the Sindh government formed a housing company duly registered with the Security and Exchange of Pakistan (SECP).

Chief Minister Murad Ali Shah said this while talking to a delegation of the World Bank during a meeting held at the CM House.

The CEO of the company has been appointed as per the recommendation of the WB, Murad said.

He informed the WB team that his government has appointed Khalid Shaikh as the first CEO of the company as per the requirement of the donor agency.

Shah said the provincial government has also put a Rs500 million seed money in the company and its Board of Directors (BoDs) is being nominated.

WB, in principle, has already agreed to provide Rs110 billion to start the reconstruction of over 1.8 million houses which collapsed during the heavy rains and floods.

Subsidies to growers

The WB delegation led by its Country Director Najy Benhassine discussed the provision of targeted subsidies to the small growers for agricultural inputs such as seed and fertiliser so that they could plant their upcoming Rabi crop, particularly the wheat.

"Our government is keen to rehabilitate and strengthen growers, particularly the small ones so that their waterlogged agricultural lands could be made arable," the chief minister said and added that the growers have suffered huge losses for the Kharif season in which their standing crops were washed away.

Shah said that $100 million may be allocated for the agricultural subsidy for the Rabi crops which was agreed upon in the meeting, however, Minister for Agriculture Manzoor Wassan was directed by the CM to hold a departmental meeting with the WB agriculture sector experts for developing modalities.

Repairing irrigation system

The meeting also discussed the rehabilitation of the irrigation system damaged by heavy rains and floods.

The WB delegation agreed to provide $370 million for the purpose.

The meeting was also informed that the flood protection bund, Manchar Lake, various other embankments, regulators of canals, and drainage systems have been damaged badly by the floods. "We, have to prepare for next year's monsoon season," CM said. The WB team told the Sindh government that the project concept (PC-1) of the projects should be prepared and approved by the relevant forums of the provincial and federal government so that these could be considered for approval in the WB board scheduled to be held in December. The chief minister directed his team to prepare and approve the necessary documents to meet the world bank's deadline.

Sindh government officials and World Bank delegation also discussed a water supply project of $94 million. Under the project, the water supply schemes damaged during the floods would be rehabilitated or revamped. The meeting agreed to finalise the modalities of the project so that it could be started.

Published in The Express Tribune, October 13^th, 2022.