Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Uraan Pakistan: Senate panel questions C/A target shortfall

ISLAMABAD: A parliamentary panel on Friday pressed the government for answers over a shortfall in the current account target set under Uraan Pakistan, questioning officials on the reasons behind the gap and the timeline for meeting the benchmark. The Senate Standing Committee on Planning, Development and Special Initiatives, chaired by Senator Quratulain Marri, reviewed implementation of Uraan…

Uraan Pakistan: Senate panel questions C/A target shortfall

A parliamentary committee in Pakistan questioned the government on Friday regarding a shortfall in the current account target under Uraan Pakistan. The Senate Standing Committee on Planning, Development and Special Initiatives, led by Senator Quratulain Marri, examined the implementation of the program, including progress against set targets and key economic indicators.

Officials initially blamed the deviation from the target on increased workers' remittances, stating that the balance was expected to approach the target in upcoming years. The committee heard about Uraan Pakistan's long-term vision through 2035, the 13th Five-Year Plan, and the annual development and PSDP plans for 2026-27. They also discussed 2028-29 targets for GDP growth, investment, inflation, exports, workers' remittances, IT exports, and the debt-to-GDP ratio.

However, the focus shifted to the pace of progress on major railway infrastructure projects, such as ML-1, the Rohri-Nawabshah railway link, and the prospective Gwadar railway connection. Senator Shahadat Awan questioned the status of these projects and the current status of negotiations, emphasizing that negotiations alone could not be considered substantial progress.

He urged clear timelines and visible movement on projects that are central to the government's development agenda. The committee also reviewed the inclusion of universal accessibility and inclusivity in development planning, particularly through revisions to the PC-I Proforma. The ministry reported that accessibility considerations were now incorporated into the revised PC-I Proforma, following recommendations from the committee's previous meeting.

Senator Marri highlighted that development policies should ultimately lead to practical facilities, services, and opportunities for persons with disabilities, and expressed satisfaction that the committee's recommendations had resulted in a tangible policy change, emphasizing the importance of embedding inclusivity from the planning stage.

Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at brecorder.com →

More in Finance & Markets

SMEDA, SBP explore cluster-based lending for SMEs

LAHORE: The Small and Medium Enterprises Development Authority (SMEDA), in collaboration with the State Bank of Pakistan (SBP), organised a seminar on cluster-based lending studies to explore practical ways of expanding financing opportunities for Pakistan’s Small and Medium Enterprises (SMEs).

Analysis: External debt rises, current account deficit widens

Several of the country’s external sustainability indicators have weakened, as reflected in a widening current account deficit and rising external debt and external debt-to-gross domestic product ratio. The development is not entirely unexpected, as the government has signaled a greater willingness to rely on debt financing to support its…

More from Friday 4 September →