ISLAMABAD - Federal Minister for Finance Ishaq Dar on Thursday directed the Economic Affairs Division to firm up all Recovery Need Assessment (RNA) and Damage Need Assessment (DNA) estimates to be shared with bilateral and multilateral development partners at the forthcoming donors conference.

He also asked to ensure complete coordination among the departments, agencies involved in chalking out relevant details.

Finance Minister said this while chairing a special briefing session regarding various projects of EAD.

The Minister said rehabilitation of the flood affectees and IDPs was a priority area for the government and preparatory work should be completed before the said conference. He emphasised that transparency in all matters should be ensured and an oversight committee comprising representatives from donors, the federal and provincial governments as well as the services was the best option to achieve this objective.  

The Minister also asked Secretary EAD to pursue the draft bill 2014 on foreign contribution (International Non-Governmental Organisations policy) so that foreign donors could be actively involved in the process of rehabilitation.

The Minister advised EAD to devise a plan to handle all foreign loans, grants and donations in a focused manner with centrality of command so that the government could have a clear picture of the debt situation. Secretary EAD informed the Minister that out of the total number of projects undertaken by EAD, the highest number pertained to energy sector and almost $3.5 billion worth of investment would be made in these projects. Transport and communication will also receive $3209 million investment in the next four years.

He said from 2008 to September 2014, the flow of FEA/debt servicing had been in our favour and we had been able to maintain a balance of 33pc of the total funds.

The Finance Minister directed Secretary EAD to keep a consolidated record of the cash transfers and compensations to flood affectees and IDPs by foreign donors. The Minister further said that the task of resource mobilisation for flood affectees and IDPs should be fast tracked.

Secretary EAD also briefed the Minister that they have taken the new initiatives in preparing Development Assistance Database (DAD) and also started their work on Foreign Assistance Policy Frame Work (FAPF) as well as Automation of debt repayment system.

The Finance Minister directed EAD to explore options to reduce debt burden including debt swap arrangements and secure FEA at concessional terms and enhance disbursement through Government channels.

The Minister also directed EAD to share its plan for donor’s conference before making final arrangements as early as possible.