ISLAMABAD: The progress on more than half of the federal projects worth 6.7 billion dollars sponsored by the World Bank is unsatisfactory, while the World Bank in its report expressed serious reservations on these projects. The progress has been described as unsatisfactory.
The World Bank, together with the Ministry of Economic Affairs, has reviewed 20 projects worth $6.7 billion. According to the officials, the review revealed that only $2.9 billion projects are on track, while progress on $3.4 billion projects is partial. 453 million projects have been identified as problematic.
The most irregularities have been found in the WAPDA department, which has been ruled by retired generals for decades, besides projects related to the National Transmission and Dispatch Company, FBR, Ministry of Planning, Ministry of Finance and State Bank. are prone to problems, which have delayed the benefits from these projects.
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According to the review report, Pakistan took a loan of 213 million dollars from the World Bank for the rehabilitation of Silat victims in Balochistan in July this year, but still the project management unit is inactive and no bank account has been opened to receive the funds. Due to which not even a penny has been received from the World Bank yet.
Pakistan took a $400 million loan from the World Bank to increase its tax net in 2019, but the plan could not be implemented and once again both sides are restructuring the project, the $137 billion State Bank Financial Inclusion and Infrastructure Project. Which was supposed to be completed in December 2022, has been extended twice.
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Similarly, the $380 million Public Financial Management and Accountability project has lapsed after twice being extended, the $340 million National Health Support Program scheme is lagging behind, $50 million to build institutional capacity to care for refugees. The ongoing multi-million dollar project has also been delayed due to documentation issues.
Similarly, the $200 million project to deal with the impact of Covid-19 in the education sector, the $460 million Khyber Pass Economic Corridor project, the $1.1 billion project to increase the capacity of Tarbela Hydropower projects, the $390 million Tunnel Five scheme, There are several projects, including the $588 million Dasu Hydropower Project, the $425 million National Transmission and Dispatch project, which are stalled due to various reasons.