Islamabad, October 22,2024- It has been revealed that only $2.2 million out of the $22 million received for the rehabilitation of flood-affected areas in Balochistan has been spent. Sources from the Ministry of Finance disclosed that the World Bank had approved a loan of $400 million for flood recovery projects, with the release of the second installment contingent upon the utilization of the first installment of $213 million.
According to sources, while funds are available for the rehabilitation of flood-affected areas, the government of Balochistan has failed to implement the project. They further revealed that China had approved a grant of $200 million for housing construction in Balochistan, aiming to build approximately 35,000 homes. As part of a pilot project, China provided $6 million to construct over 8,000 houses, but the grant instalment was not fully utilized for the pilot project in Balochistan.
Additionally, the World Bank has also approved $100 million for a water-related project in Balochistan. Sources indicate that the federal government has suggested that the Balochistan government develop a more efficient system to expedite project implementation. They emphasized that until Balochistan establishes an improved system for faster execution of projects, further funds cannot be released. The loans provided by the World Bank to Balochistan are backed by a federal guarantee, which will be given to Balochistan as a grant.
