ISLAMABAD, Dr. Shamshad Akhtar, the Federal Minister for Finance, Revenue, and Economic Affairs, chaired a meeting at the Ministry of Economic Affairs to assess the progress of projects financed by the Asian Development Bank (ADB) and the World Bank (WB).

According to the Press Information Department, the meeting on November 21, 2023, focused on reviewing the Federal Portfolio of ADB and WB-funded projects, which are pivotal for Pakistan’s socioeconomic development. In her opening remarks, Minister Akhtar highlighted the importance of these projects in providing access to job markets and promoting economic mobility to alleviate poverty.

The Minister stressed the aim of the portfolio review was to identify and resolve implementation challenges and to achieve disbursement targets for the current fiscal year. She reviewed both successful and problematic projects, covering areas like post-flood infrastructure restoration, border crossing improvements, digital payments, housing finance, tax base expansion, adaptive social protection, and higher education sector development.

Expressing concern over delays in critical projects, Minister Akhtar committed to addressing these issues with the Prime Minister’s Office and Provincial Governments to expedite their completion. She also sought expertise and technical assistance from donors to ensure timely implementation, crucial for Pakistan’s socio-economic development.

The Minister for Economic Affairs reinforced the need to address challenges in problematic projects, emphasizing the importance of establishing clear deliverables and timelines to avoid delays and cost overruns. The meeting saw participation from senior officials of relevant ministries, project directors, and representatives from ADB and WB.