The government may not need Parliament's approval for the establishment of Pakistan Development Fund (PDF) but is answerable to Parliament about mode and terms of conditions of any amount placed in such a Fund. Sources on condition of anonymity said that funding for development projects is usually routed through the Economic Affairs Division (EAD).
When asked about the source and terms on which the $1.5 billion was placed in the PDF by a friendly Muslim country, as revealed recently by the Federal Finance Minister Ishaq Dar in a recent press briefing, sources in EAD and Finance Ministry stated they had no information about the PDF.
In the past, the EAD held annual conferences under the Pakistan Development Forum (PDF) and presented government development agenda to multilateral and bilateral donors in consultation with Planning and Development Division. After receiving firm commitments from the donors, these development projects were submitted to the Central Development Working Party (CDWP) and Executive Committee of National Economic Council (ECNEC) for approval. According to sources even if inflows of $1.5 billion were provided by a friendly country to finance the mega development projects, the planning process was bypassed.
Former governments shared the country's development agenda with the donors at this forum in a transparent manner, sources said, adding that the mode and terms and conditions of the inflow of the present transaction have not been revealed which is against the principles of transparency.
Analysts maintain that the elected representatives have the right to know about the terms of conditions of the current inflows which may have far-reaching impact on the country's economy and foreign affairs. When contacted, Foreign Office spokesperson, Tasnim Aslam, stated: "We have no information about the bailout package by any Muslim country and the Ministry of Foreign Affairs can not confirm something about which it has no information".
Finance Minister Ishaq Dar stated that $1.5 billion was provided by a friendly country which does not wanted its name disclosed. He said that the money was provided in the PDF account opened in the State Bank of Pakistan (SBP) to finance mega development projects. An official said that EAD is oblivious about inflows as well about the projects against which funds were provided.
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