ISLAMABAD: UK has decided to triple its financial aid to Pakistan from the next financial year 2024-2025, from the current £41.5 million to around £133 million annually.
Joe Muir, head of the Foreign, Commonwealth and Development Office (FCDO) in Pakistan, told JEE News that a large part of the temporary increase support will be used in various sectors, but Official Development Assistance (ODA) will mostly Pakistan will spend on climate mitigation.
“We are pleased that Pakistan and the [International Monetary Fund] IMF have agreed to a new agreement under the Standby Arrangement (SBA) programme, which will help Islamabad achieve debt sustainability over the duration of the programme.
“We ask Islamabad to continue with structural and other economic reforms, particularly improving governance in public institutions. Once the current arrangements are complete, Muir said in an hour-long exclusive interview at the British High Commission. Pakistan is negotiating a new programme.” On Monday, Islamabad’s diplomatic enclave…
The UK Ambassador discussed various economic, social and developmental issues facing Pakistan and said that she was taking care of her assignment in Islamabad from last September 2022. He was greatly impressed by the hospitality of the Pakistani people.
He said that Jane Marriott, Britain’s first female High Commissioner, will assume her duties in Islamabad in early August 2023 as she has worked in Kenya before her new assignment in Pakistan.
On the more than tripling of financial aid, the head of FCDO in Pakistan explained that it would be difficult to share the exact number as the UK plans to increase the aid share to 0.7% of gross domestic product (GDP). was made, so tentatively this financial figure could rise from the current £41.5 million in the current financial year 2023-24 to around £133 million in the next financial year 2024-25.
He said that UK is going to publish a development strategy for aid recipient countries including Pakistan after a period of five years. The aid strategy is in the process of transition whereby FCDO will bring about changes in the traditional way of development to build on the experience of over 60 years.
“Under the new development strategy, the UK will focus more on addressing Pakistan’s structural issues, population growth, unlocking the capacity of the private sector to achieve greater growth and mitigating the negative impacts of climate change,” he added.
He said that there will be four major goals including improvement of human capital under which governance structure will be provided, technical support for health and education sector as well as family planning through better coordination between federal and provincial governments.
Under the objective of the second objective, he said that climate response and adaptation to disasters and BISP will be used to reach out to the affected people in case of any disaster. He said that water governance will also be improved.
To a question about the water pricing mechanism, he said that he was not aware of any recommendation from his side but that the overall efficiency of water use would be improved. The third objective would be to achieve an open society and improve the effectiveness of public institutions. It will also focus on tackling gender-based violence and empowering women.
He said the fourth objective would focus on the economy and trade and added that the FCDO supported the IMF’s program to maximize revenue generation and maintain the budget within the agreed framework. Therefore, efforts will be made to reduce costs.
“Private sector and green financing will help Pakistan achieve high and sustainable growth,” he added.
In response to another question about reducing population growth after the transfer of power after the 18th Amendment, he said UK development assistance would work more closely with the Council of Common Interests (CCI). To work together with the Federation. and provincial governments.
As for the education sector, he said he knew more than 22 million children were out of school, with some estimates that the number had risen to 3.5 million after the last devastating floods.
He reminded that there may be some children who have gone back to school, but access to education is still a problem in Pakistan.
