The Economic Affairs Division (EAD) Secretary Nargis Sethi said that the EAD would constitute a special ‘foreign assistance monitoring cell’ in line with directives of finance minister to effectively monitor the timely disbursement and utilization of foreign assistance for development projects.
Nargis revealed this information during a review meeting regarding the Asian Development Bank’s development portfolio for Pakistan for 2010-13. The meeting was held at the economic affairs division and was co-chaired by Nargis and Central West Asia Asian Development Bank’s (ADB) Director General Klause Gerhaeusser at the Pakistan Secretariat on Friday.
Nargis briefed the meeting that the finance minister was concerned about the slow disbursement and implementation of various projects, and had directed Nargis to develop a proper mechanism to accelerate the project’s implementation, remove unnecessary procedures and streamline the funds for disbursement according to the agreed timeline.
Gerhaeusser said that he had come to Pakistan to assess the current situation and requirements of the country which he would present before the board meeting. He said that the ADB would continue to consult the Pakistani government for finalizing the Country Operational Business Plan for 2014-16.
The meeting reviewed the current status of ADB funded projects in Pakistan and the parameters to further bolster the completion of these projects, especially in energy and communication sectors.