Islamabad: Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, led a critical meeting on Thursday to tackle the complexities of planning and executing foreign-funded development projects across Pakistan. The session convened top officials to strategize on refining policy guidelines to better align with financial realities and economic policies.
According to Press Information Department, the meeting, which included key figures like Secretary Planning Awaise Manzur Sumra and Economic Affairs Division Minister Ahad Cheema (via video link), focused on the stark discrepancies between demanded and allocated development budgets. With ministries requesting PKR 2,900 billion but only PKR 1,100 billion approved—comprising PKR 220 billion in foreign funding—the need for strategic fiscal management was emphasized. Minister Iqbal highlighted the challenges of escalating demands amidst shrinking budget allocations and stressed the importance of minimizing financial and economic risks in project management.
The discussion also underscored the necessity of establishing mechanisms to ensure efficient fund disbursement and project execution within set timelines to prevent cost overruns and financial strain from exchange rate fluctuations. Concluding the session, Minister Iqbal directed the Economic Affairs Division to coordinate closely with respective ministries and the Finance Ministry to secure adequate funding for key development projects, ensuring they meet their economic and infrastructural goals without exacerbating the country’s financial burden.