Prime Minister Shehbaz Sharif, on Tuesday, pledged complete transparency in the utilization of funds received from donors following the Climate Resilient Pakistan Conference held in January to aid the rehabilitation of flood victims. The assurance came during the third International Partners Support Group (IPSG) meeting, which took place on July 25th in Islamabad, exactly one year after the devastating floods in Pakistan. The objective of the meeting was to assess the progress made in flood recovery efforts and realign priorities to build a resilient Pakistan.
Ensuring Transparent Use of Flood Rehabilitation Funds
During the IPSG meeting, Prime Minister Shehbaz Sharif reiterated the government’s commitment to establishing a robust mechanism, the Special Investment Facilitation Council (SIFC), to attract investments and reduce reliance on borrowings. The aim is to steer the country towards self-sustainability and eliminate the burden of loans.
Economic Revival Plan and Foreign Investment
The Prime Minister outlined an economic revival plan that requires foreign investment and technical support to enhance agricultural yields and focus on other areas of action. He expressed gratitude to the member countries and organizations for supporting Pakistan during the difficult times of unprecedented floods.
Progress and Allocation of Resources for Climate Resilience
The meeting reviewed the status of pledges received during the International Conference on Climate Resilient Pakistan and discussed the allocation of resources for building climate resilience. The Prime Minister acknowledged the challenges posed by international inflation in crude oil and commodities prices, emphasizing the government’s commitment to the IMF deal.
He also highlighted the role of the SIFC in promoting the agriculture, IT, and mining sectors, inviting investments from Gulf nations, America, North America, and other interested countries.
Emphasizing Transparency and Third-Party Validation
Prime Minister Shehbaz Sharif stressed the importance of transparency in rehabilitation and reconstruction projects for flood-affected areas. He directed relevant authorities to ensure third-party validation for every project.
