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| November 29, 2005 | Tuesday | Shawwal 26, 1426 |
$85m soft loan, $5m grant for Balochistan
QUETTA, Nov 28: The Asian Development Bank has provided a soft loan of $85 million to the Balochistan government that would be spent on improving social sector programmes in the province through district governments. Provincial Minister Syed Ehsan Shah stated this while speaking at a press conference along with Secretary Finance Mahfooz Ali Khan here on Monday.
He said that the ADB would also provide an additional grant of $5 million to Balochistan that would be “pure grant” and non-refundable. He said that the amount would be spent on eradication of tuberculoses, malaria and HIV in the province.
Giving the break-up of the ADB soft loan, the finance minister said that out of the total amount $65 million would be spent under the Devaluate Social Sector Programme (DSSP) and $20 million under the Balochistan Resources Management Programme (BRMP).
He said that the Asian Development Bank had given the soft loan on one per cent mark-up that would be returnable in 24 years. He said: “Approval of a $5million grant is a big favour for Balochistan.”
He said that the $65million amount would be spent on strengthening social services departments in district governments under the devolution of power plan. The district government would implement improvement programme in the education, health, water and sanitation sectors.
Replying to a question, Syed Ehsan Shah said that under the DSSP funds would be distributed among the district governments according to the Provincial Finance Commission criteria evolved in Balochistan. He said that the districts would get their share on the basis of population and territory.
He said that the government had decided to provide more funds to the district government which showed good performance and the funds of the district which would not improve its performance would be diverted to other districts.
He said that the government would monitor development expenditures through its auditors, provincial audit department and citizens’ community board to ensure transparency in this regard.
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