Karachi: The Planning Commission on Monday recommended local funding for financing Karachi’s urban development projects, a news source reported. It specifically proposed the pursuit of local financing deployed through various modes like private-public or public-community partnerships in order to reduce the burden that would otherwise be imposed on the exchequers of both the provincial and local governments.
The recommendation for locally financing Karachi urban development came through the Planning Commission’s concept paper on Solid Waste Emergency Efficiency Programme for 2020-24 for Karachi. In its technical appraisal, the commission suggested that the Sindh government might certify the project’s eligibility for foreign loans.
Additionally, it asked for elaboration of foreign loans received and under process for Karachi vis-a-vis rest of Sindh. This measure was necessary to ensure investment for a balanced regional development.
Upon the request of the provincial government, the World Bank (WB) is assisting the said solid waste initiative in the wake of the monsoon situation experienced in Karachi last year. The purpose of the project is to promote an integrated solid waste management programme and improve the efficiency of the local government.