Inside Financial Markets
Pak-UK reviews £ 2.2 billion, £706 million Pounds ongoing projects - Inside Financial Markets

Pak-UK reviews £ 2.2 billion, £706 million Pounds ongoing projects

Minister for Economic Affairs Makhdum Khusro Bakhtyar Tuesday chaired a high-level Portfolio Review Meeting of UK-Foreign Commonwealth and Development Office’s (UK-FCDO) projects in Pakistan.

During the meeting, on-going and pipeline projects worth of 2.2 billion Pounds and 706 million Pounds respectively in Pakistan were reviewed under UK-FCDO, said a press release issued by Ministry of Economic Affairs here.

The Minister for Economic Affairs appreciated and thanked the Government of UK and FCDO as one of the largest trading and development partners of Pakistan.

He thanked and appreciated the UK for providing assistance worth 2.6 million Pounds in grant to combat COVID-19 and 2 million Pounds to curtail the spread of locust in the country.

He also commended the UK-FCDO’s assistance to Pakistan in the education sector through KP and Punjab Education Sector Programmes, poverty reduction through Pakistan National Cash Transfer Programmes-BISP and skill development through Pakistan Skill Development Programme in the country.

The Director, Development, FCDO Ms. Annabel Gerry, gave a detailed presentation on the portfolio and highlighted important projects contributing to Pakistan’s development.

Secretary EAD, while thanking UK-FCDO, underscored the need to initiate new long- term development partnership agreement for future development.

The Minister for Economic Affairs underlined the need for consultation with the Government of Pakistan for designing and reporting of the off-budget projects in future.

He appraised the UK-FCDO about ‘Off-Budget Policy Framework’ being developed by EAD.

He suggested that future UK-FCDO portfolio may also focus on priority areas such as support to BISP, skill development, supply chain in agriculture, Westward connectivity, scholarships, tourism development, mitigating climate change and low-cost housing

Syed Zaki Hussain

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