Islamabad February 24, 2024. The Standing committee on Cabinet Secretariat in its meeting held today recommended Public Sector Development Program of Board of Investment, Establishment and SIFC Divisions for the financial year 2026-2027. The Committee recommended to the Ministries of Finance and planning and Development to release required fund to concerned Divisions to avoid revision of cost of the projects resulting in wastage of public funds. The Committee met under the chairmanship of Malik Ibrar Ahmad, in Parliament House, today.
The Additional Secretary Establishment Division apprised the Committee that PSDP proposals worth Rs.2.729 billion for four ongoing schemes while Rs.419 million had been proposed for three new schemes. He further apprised that these all these schemes pertain to improvement of infrastructure at PARD at Peshawar, up gradation of NIPA at Karachi, Digitalisation of In-House processes at FPSC and construction of residential facilities for women officers at Islamabad. He informed that the new schemes included up gradation of infrastructure of decades old NIPA karachi and operationalisation of newly built Auditorium and LAN infrastructure improvement at NIPA Peshawar.
The Committee accorded its approval with direction to Planning and Finance Divisions to include the schemes in forthcoming budget and ensure timely release of funds to avoid project cost revision. The Committee later accorded approval to the PSDP project of Special Infrastructure Facilitation Council Division amounting to Rs.792 million. The project namely Invest Pakistan relates to strengthening and capacity enhancement of SIFC.
The Committee also accorded its approval to the budgetary proposals of Board of Investment (BoI) worth Rs. 1.1 billion. The Committee was informed that that two projects of BoI relate to establishment of Project Management Unit under CPEC-ICDP and Digital Economy Enhancement Project. The Committee was informed that both the projects would help the investors aspiring to invest in Pakistan.
The Commitree directed Benelovent and Group Insurance Funds to get the Actuarial Study of the Funds within shortest possible time expedite collection of data for provision to Acturail Firm so that the study was completed and relevant laws be amended. The Committee was apprised that the data required for Actuarial Study had been provided to the firm and the study would be expected to be completed by mid April.
The meeting was attended by MNAs. Syed Rafiullah, Ms. Nuzhat Sadiq; Ms. Farah Naz Akbar, Ms. Shahida Begum, Dr. Ramesh Kumar Vankwani, Ms. Tahira Aurangzeb, Ms. Rana Ansar, Mr. Irfan Leghari, and Nawabzada Mir Jamal Khan Raisaini, Additional Secretaries of Establishment and SIFC Divisions and Board of Investment and other officers of the concerned departments.
