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| March 25, 2003 | Tuesday | Muharram 21, 1424 |
ADB to give Rs13bn for local govt system
QUETTA, March 24: The Asian Development Bank will provide Rs13 billion to Pakistan over the next four years to improve and give stability to the local government system, president of the bank’s resident mission said on Monday.
Speaking at a high-level meeting here, ADB’s Mashrook Ali Shah praised the government policies pursued during the last three years, saying they resulted in the shrinking of budget deficit from 6.5 per cent to 5 per cent and considerable increase in the foreign exchange reserves.
The meeting, presided over by Balochistan Chief Minister Jam Mir Mohammed Yousaf, was held to identify uplift schemes and development projects for the province to be implemented with the cooperation and technical assistance of the bank.
Mr Shah said during the last three years ADB provided Rs3 billion to Pakistan for introducing reforms in various sectors, including banking.
He said his bank was implementing development projects worth $70.93 million in various sectors of Balochistan, including agriculture, rural development and social sector. He expressed satisfaction over the pace of these projects.
“Balochistan will also be provided with its share in uplift schemes worth 1,500 million dollars that would be launched all over the country to promote agriculture and irrigation sectors and improve economic condition of the people,” he added.
“The ADB is also considering providing the provincial government with $150 million for construction and repair of roads during 2003. Moreover, provision of $450 million for development of rural areas, $950 million for the promotion of natural resources and $850 million for social sector during 2004 to 2006 are also under consideration,” he said.
These projects would be given final shape following their approval by the provincial government.
The Balochistan CM lauded the bank’s cooperation in improving the economic and social condition of the province.
He stressed that the bank pay due attention and importance to Balochistan keeping in view its economic and social backwardness.
He laid emphasis on introducing schemes that could provide immediate relief to the drought-affected areas.
He also called for a review of the agreements signed between the bank and the previous government, saying the opinion of the elected people should be given due consideration.
He assured the mission that the projects being implemented in the province with the cooperation of the bank would be completed within the scheduled time.—APP
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