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Pakistan Assessing Damages to Ongoing $15.2 Billion Foreign Funded Projects due to Floods

admin-augaf by admin-augaf
September 1, 2022
in Business, Finance
Reading Time: 3 mins read
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Federal Minister for Economic Affairs, Sardar Ayaz Sadiq chaired an emergency session on Initial Damage Assessment of Foreign Funded Projects (FFP) affected by unprecedented rains and flash floods across the country in Islamabad on August 31, 2022

Federal Minister for Economic Affairs, Sardar Ayaz Sadiq chaired an emergency session on Initial Damage Assessment of Foreign Funded Projects (FFP) affected by unprecedented rains and flash floods across the country in Islamabad on August 31, 2022

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Islamabad September 1 2022: Federal Minister for Economic Affairs, Sardar Ayaz Sadiq on Wednesday chaired an emergency session on Initial Damage Assessment of Foreign Funded Projects (FFP) affected by unprecedented rains and flash floods across the country.

NCC-FFP- Emergency Session on Initial Damage Assessment of Foreign Funded Projects (FFP) affected by flood disaster,said a press release issued here.

Sardar Ayaz Sadiq, Federal Minister for Economic Affairs chaired an emergency session on Initial Damage Assessment of Foreign Funded Projects (FFP) affected by unprecedented rains and flash floods across the country.

The meeting was attended by Dr. Ayesha Ghaus Pasha, State Minister for Finance, Dr. Kazim Niaz, Secretary Ministry of Economic Affairs, Mr. Humair Kareem, Additional Secretary EAD, and representatives from Provincial Governments including P&D, BOR Punjab, Sindh, KP, Balochistan, AJK and GB, and all relevant provincial PDs.

Minister for Economic Affairs welcomed the participants to the meeting and stated that in continuation of 29 successful NCC-FFP sessions, the objective of calling this emergency session was to review the initial damage assessment caused by heavy rains and flashfloods to the implementation of Foreign Funded Projects (FFP) in the provinces, including AJK and GB and to attend to the issues of the affected projects on urgent basis to pace up disbursements and progress.

All the provinces submitted an initial damage assessment report to the EAD on which discussions were held today.

Fortunately, the initial damage assessment seems to be curtailed to a manageable limit. Minister directed to hold detailed damage assessment session in upcoming NCC meeting to evaluate the progress of the projects, a part from a general review of the project implementation.

During the meeting, the representatives of the Provinces presented an initial damage assessment of the affected FFP along with the issues hampering implementation of the projects.

The Provinces emphasized that the present assessments are preliminary and not definitive owing to access issues and the assessment is ongoing. Currently, in total there are 113 projects in all provinces worth 15.2 Billion USD. The Province of Punjab is implementing 22 Projects, worth 6.2 Billion USD, KP – 41 projects, worth 4.9 Billion USD, Sindh – 29 Projects worth 3.2 Billion USD, Balochistan – 13 projects worth 0.526 Billion USD and AJK/GB – 08 projects worth 0.209 Billion USD.

The Minister requested the representatives from Provincial Governments to timely address the issues of projects affected by the heavy rains and flash floods. He also emphasized the need for setting milestones/deliverables, with timelines, by the focal departments and implementing agencies for better monitoring, and preventing time & cost over-runs.

He further stated that strict action would be taken against officials who are causing unnecessary delays in the efficient implementation and the Foreign Funded Projects as the assessment of the FFP is going through a Three-Tier Check including from EAD, NDMA and UNDP.

Secretary EAD also stressed the need for regular follow-up meetings by the focal departments with the executing agencies and stakeholders for effective monitoring and prompt resolution of issues.

The meeting identified the damaged Foreign Funded Projects in each province and directed the provinces to make a detailed assessment for the upcoming NCC meeting.

Tags: flood 2022
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