Government ensures timely release of development funds

ISLAMABAD: To fast-track the execution of development projects, particularly related to the social sector, the government has decided to relax the procedure for releasing developmental funds in a meeting led by Adviser on Finance and Revenue Abdul Hafeez Shaikh.

The meeting was attended by Ministers and Advisers of the Planning, Economic Affairs, Commerce and Industry, along with the Heads of Board of Investment, the Federal Board of Revenue, Planning Commission and Finance, Food Security and Planning Secretaries.

This decision was taken to accelerate the economic growth by developmental projects in relation to Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC).

An official statement announced that the Minister for Planning and Development briefed the meeting regarding the progress on mega developmental projects in the public sector. A complete road map was presented to brief the execution of all the major projects on a fast-track basis. Under proper monitoring, these projects will be completed as per planned physical and financial phasing, with the utilisation of the latest technologies.

Minister of Economic Affairs Division further informed about sufficient funds being available that were given by various development partners for projects for the social and infrastructure sectors of the federal and provincial governments.

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