ISLAMABAD: Economic Affairs Division (EAD) Secretary has informed Finance Minister Ishaq Dar that out of total projects undertaken by EAD, more than $3.5 billion investment would be made in energy sector, while Transport and Communication will receive $3.209 billion investment in the next four years.
This was disclosed during a special briefing session regarding various projects of EAD. Ishaq Dar directed the EAD to ensure full coordination among the departments and agencies for the upcoming donors’ conference. He ordered the EAD to firm up all Recovery Need Assessment (RNA) and Damage Need Assessment (DNA) estimates to be shared with bilateral and multilateral development partners.
Dar said the rehabilitation of flood victims and internally displaced persons (IDPs) is a priority of the government and preparatory work should be completed before the said conference. He emphasised that transparency should be ensured in all matters and an oversight committee comprising representatives from donors, the federal and provincial governments as well as the services is the best option to achieve this objective.
Dar also asked the EAD secretary to pursue the draft bill 2014 on foreign contribution (international non-governmental organisations policy) so that foreign donors could be actively involved in the process of rehabilitation.
The Finance Minister directed the EAD secretary to keep a consolidated record of the cash transfers and compensations to flood victims and IDPs by foreign donors. The minister further said that the task of resource mobilisation for flood victims and IDPs should be completed on fast track basis.
EAD secretary said from 2008 to September 2014 the flow of FEA/debt-servicing has been in Pakistan’s favour and the country has been able to maintain a balance of 33% of the total funds.
