
Delay in execution of Balochistan dam projects irks Senate panel
The committee met with Senator Quratulain Marri in the chair at the Parliament House on Monday.
The committee was briefed on dam projects in Balochistan. It was told that a total of 23 dams —11 small and 12 mega— were planned. The total estimated cost was Rs182.837 billion, with Rs50.588 billion incurred to date. The committee chairperson expressed serious concern over the five-year delay in dam construction and directed that project-wise details be presented at the upcoming meeting.
The committee was briefed on construction of dams in Balochistan, the Sukkur-Hyderabad-Karachi Motorway, and realignment of the Karakoram Highway and the development projects of Gwadar.
The Ministry of Finance briefed the committee on development projects in Balochistan and reported that Rs50 million had been released to the province. This statement was endorsed by the Assistant Chief of Planning and Development, Balochistan. The chairperson, with the consensus of committee members, recommended completing the ongoing projects before initiating new ones.
The committee noted the consecutive absence of the secretary of Communication in its fourth meeting. The chairperson expressed serious concerns over the officer's negligence and directed that summon be issued in his name for disregarding the Senate Committee. The committee summoned the Secretary Communication in the next meeting.
While addressing the chairperson's concern regarding the deteriorated condition of the road from Hunza to Khunjerab, the National Highways Authority (NHA) representative explained that the damage was due to the frequent movement of heavy machinery and construction materials for the construction of the Bhasha and Dasu dams.
The chairperson, in consultation with committee members, stated that a meeting would be arranged in Hunza to witness the road conditions firsthand.
The committee was also briefed on international collaboration prospects, particularly regarding road infrastructure discussions with the Minister of Economy of Azerbaijan during a recent visit.
The minister of state for Planning, Development and Special Initiatives stated that the prime minister had assured in various meetings that the Sukkur-Hyderabad-Karachi Motorway project would begin on a priority basis with PSDP funding if foreign funds are not available.
While providing an update on the projects in Gwadar, it was told to the committee that a 253km road has been constructed as per the Master Plan road network. A 50-bed hospital has been constructed on 68 acres, a state-of-the-art school has been built on 84 acres, public parks covering 20 acres have been developed, and 300 acres have been reserved for the establishment of a sports complex.
The chairperson raised the issue of fund releases in relation to project progress in the province and directed that a detailed report on all projects be submitted at the next meeting. She suggested that the committee and concerned authorities consider developing Gwadar to international standards and take concrete steps to attract investors and tourists.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
14 hours ago
- Business Recorder
G-B to Gwadar: ‘Talent of youth will be linked with process of development'
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Professor Ahsan Iqbal, while addressing the inaugural ceremony of the Uraan Fellowship Programme 2025, said that the exceptional talent of youth from Gilgit-Baltistan to Gwadar will be linked with the process of national development, said a press release. He said that the purpose of this program is to make the youth genuine partners in the country's progress and to nurture their leadership skills to meet future challenges. Professor Iqbal said that under the vision of the prime minister, the central focus of Uraan Pakistan is to equip the youth with modern skills. The greatest strength and capital of Pakistan are its youth, who make up 64 per cent of the population. He said that Pakistan came into being as a result of the unparalleled leadership of Quaid-e-Azam Muhammad Ali Jinnah, but it is thought-provoking that countries which were once behind us have now moved ahead. The Minister for Planning said that peace, political stability, continuity of policies, reforms and commitment to modernization are the key pillars of development. Unfortunately, due to political vendettas, the decision-making process has been affected. He stated that through CPEC, $25 billion of investment came into the country, load-shedding was controlled, and law and order was restored. Professor Iqbal urged the youth to protect themselves from hatred and prejudiced attitudes and to play a positive role in the country's development. He said that in the past year, inflation was brought under control and the Pakistan Stock Exchange crossed the 140,000 points mark — a testament to economic improvement. Pakistan is on the path to a new phase of progress, and just as it proved its defensive superiority over India, it will also surpass it in the economic field. He said that the youth must play a key role in turning the dream of making Pakistan a $3 trillion economy by 2047 into reality. Moreover, students from 131 universities across the country will work for seven days with the Ministry of Planning, where they will gain important insights into the country's economic affairs and development projects. Copyright Business Recorder, 2025


Business Recorder
2 days ago
- Business Recorder
Pakistan economy enters sustained stability phase: minister
ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal announced that Pakistan recorded a current account surplus of $2.1 billion in FY2025, compared to a $2.1 billion deficit the previous year— marking a positive turnaround of $4.2 billion, the highest surplus in 22 years. While addressing a press conference on Tuesday on the launch of the Monthly Development Update – August 2025, he said that Pakistan's economy has entered a phase of sustained stability, with all major macroeconomic indicators showing positive trends during 2025. He said that remittances also increased by 7.4 percent in July, reaching $3.2 billion, indicating strong confidence of overseas Pakistanis in the government's economic management. Govt committed to turning Pakistan into a $1trn economy by 2035: minister He highlighted that GDP growth is on an upward trajectory, inflationary pressures have eased significantly, and both external and fiscal sectors have stabilised. 'In July alone, exports grew by 17 percent, reaching $2.7 billion compared to $2.3 billion in the same month last year. This reflects our priority to ensure continuous growth in exports as a driver of economic progress,' he stated. 'On the fiscal front, the deficit declined to 5.4 percent of GDP, the lowest in eight years, while the primary balance posted a surplus of 2.4 percent of GDP—its highest level in 24 years. Improved fiscal discipline has enabled the government to spend over Rs1,068 billion on development projects in Financial Year 2025, achieving a historic 98 percent utilisation rate,' Iqbal said. The minister said that inflation has fallen sharply, with the Consumer Price Index (CPI) rate dropping to 4.1 percent in July 2025 from 11.1 percent in July 2024, and the annual inflation rate down from 38 percent to just four percent. 'This downward trend in inflation is expected to continue, providing relief to the people,' he assured. He said that the Pakistan Stock Exchange crossed the 141,000 mark on August 1, driven by a new trade agreement with the United States, which secured the lowest tariff rates in South Asia. 'It is now up to our business community to take full advantage of this opportunity,' he added. Highlighting advancements in the agriculture sector, he announced that for the first time, comprehensive national agricultural data has been collected through the 7th Agriculture Census 2024, which will support evidence-based policy-making for food security, climate resilience, and rural development. He said that in July 2025, the Central Development Working Party (CDWP) approved eight major projects and recommended three to the Executive Committee of the National Economic Council (ECNEC), expected to create over 2,000 jobs. Cost rationalisation measures saved Rs40 billion in development projects, reflecting a strategic and efficient approach to public sector planning. He said that on the technological front, Pakistan successfully launched its Remote Sensing Satellite from China on July 31, 2025, which will aid in agriculture monitoring, urban planning, disaster management, and climate change analysis. He announced that in 2026, Pakistan's first astronaut will conduct scientific experiments in collaboration with China. The minister also shared that under the Prime Minister's Baikhtiyar Nawjawan Program, the URAAN Overseas Summer Internship Scholar Program received over 2,300 applications from 45 countries, with 31 top-performing students selected and placed in key divisions of the Planning Commission. Iqbal reiterated the government's commitment to accelerating export-led, technology-driven projects under the PSDP 2025–26, with a focus on youth and women empowerment, climate resilience, and inclusive development. He directed the Ministry of Finance to increase first-quarter PSDP releases by five percent and reduce last-quarter releases from 40 percent to 30 percent to ensure steady project execution throughout the year. He pointed out that global confidence in Pakistan's economy has strengthened, with international financial institutions and rating agencies acknowledging the turnaround. Barron's described Pakistan's recovery as a 'macroeconomic miracle,' while Fitch, Moody's, and S&P upgraded the country's ratings and outlook, he said. 'Pakistan's macroeconomic stability, coupled with structural reforms and strong international partnerships, is driving private sector growth and innovation. The government is determined to sustain this momentum to secure a prosperous and resilient future for the nation,' he concluded. According to report of 'Monthly Development Update – August 2025', in July FY2026, 'the PSDP spending recorded unprecedented achievement of Rs1,068 billion with 98 per cent utilisation of the Rs1,096 billion authorised allocations, reflecting improved execution and fiscal discipline. The PSDP 2025-26 is pitched at 1,000 billion including foreign loan rupee cover of Rs229 billion. Highest PSDP 2025-26 allocations (63 per cent) are directed towards infrastructure sector.' Copyright Business Recorder, 2025


Business Recorder
2 days ago
- Business Recorder
REMIT Programme: Commitment reaffirmed to continue collaboration
ISLAMABAD: A meeting of the Steering Committee of the Foreign, Commonwealth and Development Office (FCDO)'s Revenue Mobilisation, Investment and Trade (REMIT) Programme was convened Tuesday at the Ministry of Finance under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, said a press release issued on Tuesday. The meeting was co-chaired by Jane Marriott, the British High Commissioner to Pakistan. The session brought together senior officials from the Ministry of Finance, Federal Board of Revenue (FBR), Ministry of Commerce, officials from stakeholder ministries and departments, as well as, representatives from the British High Commission and the FCDO. During the meeting, updates were shared on various initiatives under REMIT's support in multiple areas, including technical assistance to Pakistan for the implementation of IMF commitments, progress on GST harmonization, climate and disaster budget tagging in the provinces, regulatory reforms at the provincial level, trade liberalization, industrial policy, and effective communication of economic reforms. The Finance Minister appreciated the progress made on reform initiatives across the taxation, investment, trade, and macroeconomic portfolios. He particularly commended the work on Compliance Risk Management and the steps taken to improve the taxpayers' interface with the Federal Board of Revenue (FBR), as well as, the regulatory and tariff reforms that will help drive Pakistan's economic growth. He also highlighted the importance of a coordinated short-, medium-, and long-term approach to attracting investment to Pakistan as a direct outcome of the ongoing economic reform efforts. The Finance Minister stressed the vital importance of establishing an enabling and conducive regulatory environment to instil confidence among both local and international investors seeking to invest in Pakistan. He observed that investors primarily look for reduced taxation, lower energy costs, affordable financing, and supportive regulatory frameworks. While the government is making determined efforts to address challenges related to taxation, energy, and financing, he noted that creating a facilitative and business-friendly regulatory environment is comparatively easier, as it lies within our own control and can be achieved through commitment, diligence, and sincerity of purpose. Jane Marriott reaffirmed the UK Government's commitment to supporting Pakistan in achieving its economic reform objectives, emphasizing that the REMIT Programme remains a key platform for advancing fiscal, trade, and investment reforms in close collaboration with federal and provincial stakeholders. The meeting concluded with both sides reaffirming their commitment to continued collaboration under the REMIT Programme to strengthen Pakistan's economic foundations and to accelerate reforms that will lead to sustainable economic growth. Copyright Business Recorder, 2025