Reconstruction of flood-hit areas: Country to get $4bn from $9bn pledged at Geneva moot: officials

ISLAMABAD: Pakistan is to receive $4 billion out of over $9 billion pledged during the Geneva conference in January 2023 to rebuild destroyed infrastructure owing to the devastating floods of 2022, senior government officials privy to the developments said.

According to senior government officials dealing with the matters related to the rebuilding of the infrastructure, an amount of $4 billion dollars out of over $9 billion dollars pledged during the Geneva conference is in the advanced stage and will be materialized soon in the flood-hit areas of the country. The officials said that the country would soon start receiving the amount in tranches, which will be utilised for the rebuilding of the flood-hit areas.

The officials maintained that the government’s top priority is rebuilding the destroyed infrastructure in the flood-hit areas; therefore, more funds are earmarked for rebuilding of these areas of Sindh, Balochistan, and Khyber-Pakhtunkhwa (KPK), which were severely hit by the worst natural calamity of Pakistan’s history.

Officials said that a portfolio worth $600 million for Islamic Development Bank has been prepared. Similarly, Sindh has done a tremendous job for the reconstruction of houses damaged by floods. For the purpose, World Bank will provide $500 million, while Sindh will provide $200 million from its own resources.

During an informal chat with a select group of journalists Secretary Ministry of Planning, Development and Special Initiatives Syed Zafar Ali Shah here on Friday, said that despite financial constraints and an economic crisis, the Planning Ministry has allocated Rs132 billion under the PSDP focusing on enhancing development projects in Balochistan. He said that the government has earmarked an additional Rs47 billion for the development of Balochistan and Rs51 billion additional for the developmental projects in Sindh.

Besides, he said that 15 initiatives were taken by the incumbent government in Gwadar. The main issue of Gwadar was the supply of water which has been resolved. The other issue was the supply of electricity, which has been done in record short time by the government, he added.

Similarly, cheques are ready for distribution among 3,200 fishermen in Gwadar. The government also announced 5,000 scholarships for the students of Balochistan. Under the laptop scheme of the Federal government, 20,000 laptops have been provided to the students of Balochistan.

The government has earmarked a historic record developmental budget of Rs132 billion under the Public Sector Development Program (PSDP) for the development of Balochistan in the fiscal year of 2023-24, demonstrating the government’s unwavering commitment to uplifting the province.

Shah also emphasized the significant progress achieved through the China-Pakistan Economic Corridor (CPEC) projects, particularly in Gwadar. He said that the New Gwadar International Airport is to become functional in September 2023 and the government is putting more focus on increasing commercial activities at Gwadar port which will not only create additional jobs for locals but help increase other economic activities in the region.

The secretary said that notable projects so far completed in Gwadar are related to water and electricity infrastructure which are ready for ground-breaking. Gwadar’s major CPEC projects, such as the Gwadar Power Plant, distribution of 2,000 boat engines to Gwadar fishermen, Khuzdar-Panjgur Transmission line via Nag-Basima connecting Markran with the national grid, China-Pak Friendship Hospital, China-Pak Technical and Vocational Institute in Gwadar, Gwadar East-bay Expressway Project, Gwadar Free Zone, and Gwadar Port, are poised to transform the region into a vibrant economic hub.

He said that the government is all set to distribute financial assistance among 3,200 fishermen of Gwadar and the process will soon be completed, adding that the government will ensure the amount is distributed among genuine people.

Secretary Planning further stated that these projects would revolutionize the development landscape of Balochistan. He also noted that the supply of 100 MW of electricity from Iran will significantly improve the lives and businesses of the people of Gwadar.

Furthermore, Shah apprised that projects worth Rs80 billion have been initiated under the prime minister’s initiatives, including the Youth Loan Scheme, scholarships, and support for new start-ups, aimed at empowering the youth of the country. He said that

Addressing the issue of climate change, Zafar Ali Shah mentioned the successful organisation of the Geneva Conference in collaboration with international donors after last year’s floods, which resulted in securing pledges of $10 billion.

Regarding the utilisation of PSDP funds during the fiscal year 2022-23, Secretary Planning said that out of the allocated Rs727 billion, the Planning Ministry had successfully released Rs724 billion, reflecting positive progress. Additionally, despite financial constraints, the PSDP portfolio has been increased from Rs700 billion to Rs1,150 billion for the fiscal year 2023-24.

Shah also highlighted various other projects across the country, such as addressing the out-of-school children issue and water projects in Skardu. For G-B, a project of 26-MW power plant along with a regional grid has been approved, the secretary said.

Copyright Business Recorder, 2023