Target of $5.6 bln disbursement by June, 2019 to be achieved: EAD

ISLAMABAD, Mar 01: The Economic Affairs Division (EAD) on Friday said that it was committed to meet its full target of US$5.6 billion disbursement by June this year.

Clarifying a news item ‘Pakistan facing 60 percent shortfall in disbursement from lenders’  carried by a section of media on Friday, the EAD in a statement said the comparison drawn between the first seven months of fiscal year 2018-19 and fiscal year 2017-18 is factually incorrect.

During the first seven months of current fiscal year, the government realized US$ 2.206 billion disbursement from multilateral and bilateral sources as against US$2.605 billion during the corresponding period of last fiscal year which is 15 percent lower, the statement added.

The major reason of this shortfall is that Executive Committee of National Economic Council (ECNEC) and Central Development Working Party (CDWP) were not functional during a period of political transition in the country consequently various projects got delayed.

However, the pace of disbursement has been jacking up for last two months and it would accelerate further in the coming months of the year 2018-19, the statement added.

(APP)