Only 2% of PSDP for new projects
A parliamentary panel was told on Friday that the IMF has advised the government to restrict funds for new development projects to 10% and prioritize only high-importance schemes.
The Senate Standing Committee on Planning and Development, chaired by Quratulain Marri, was briefed on the Public Sector Development Programme (PSDP) and IMF recommendations.
The committee was informed that this year, just two percent of funds were allocated for new projects, while 344 schemes worth Rs2.518 trillion were either completed or closed. The overall burden of pending projects has been reduced by Rs2.16 trillion.
The National Highway Authority (NHA) also presented updates on motorway projects. On the HyderabadSukkur Motorway (M-6), work on three sections will begin soon. The Executive Committee of the National Economic Council (Ecnec) approved the revised PC-1 on August 7.
The Islamic Development Bank will likely fund two stretches — Naushero Feroz to Ranipur and Ranipur to Sukkur — while talks with the OPEC Fund and Saudi Fund are underway for financing the Naushero Feroz-Nawabshah portion.
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. Regarding the new KarachiHyderabad Motorway (M-10), NHA said the project, estimated at Rs254 billion, is undergoing detailed survey work by the National Engineering Services Pakistan (Nespak).