Strategic Projects
ISLAMABAD: The federal government, having ceased provincial project financing from the national kitty in January, is now advocating for the joint financing of national ‘strategic nature projects’ by both the federal and provincial governments.
Additionally, there’s a push for integrating provincial projects to foster synergies among the provinces, aiming for more efficient investments in sectors such as health, education, infrastructure, urban services, agriculture, and industries.
A working paper prepared for the upcoming National Economic Council (NEC) meeting highlights the lack of coordination and cross-learning between federal and provincial projects, which diminishes the effectiveness of investments for national economic growth.
It emphasizes the need to integrate similar projects across provinces to achieve economies of scale and optimize public spending.
This integration could potentially obviate the need for periodic revisions of the National Finance Commission (NFC) award.
The draft National Development Framework (NDF), set to be discussed in the NEC meeting in two months, proposes the financing of national strategic projects as a shared responsibility between the central and provincial governments.
This marks a departure from the January decision halting federal financing of provincial projects.
The NDF underscores the importance of identifying strategic projects for national economic growth, to be equally funded and implemented by all levels of government.
It also stresses better understanding and implementation of devolution, introduced through the 18th Constitution Amendment and 7th NFC Award, to ensure equal opportunities and balanced development across all segments of society.
Moreover, the paper suggests the preparation of a national development outlay comprising both federal and provincial development plans, with a focus on sectoral strategies and flagship projects.
It calls for the sharing of successful project experiences among stakeholders and advocates for the synchronization of provincial and national development priorities.
Overall, the emphasis is on fostering harmony and synergy among institutions and provinces to avoid duplication and enhance the effectiveness of investments, ultimately striving for balanced development and regional equity throughout Pakistan.
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