The three day workshop on Government Debt Management held the Civil Secretariat in Peshawer concluded today. Jehanzeb Perwaiz, Advisor at Finance Department, Government of Khyber PukhtunKhwa (KP) spoke at the end of the workshop. “Greater coordination between different government departments such as P&D, other sectors and Finance is critically needed. We need to evaluate together what we are getting in donor loans before a department agrees to it. It is extremely important to understand and analyse loans for financial implications”, he said.
This was also discussed at length during the workshop organised by the USAID Financial Market Development (FMD) Project in coordination with Finance Department, KP. Abdul Wajid, Assistant Chief (Foreign Loan) Planning and Development Department thanked the USAID for organizing a very productive and useful workshop. Also a participant of the training session, he was also cognizant of the same issue, “We need to focus on how much Debt to GDP is justified. We need to focus on building capacities to understand terms and conditions of the loans we are receiving”.
The training session was attended by a dozen staff from different departments of the Government of Khyber PukhtunKhwa (KP) mainly P&D and Finance. The sessions were led by Werner Riecke (Advisor on Government Debt Planning and Management, USAID FMD) who has served at the Ministry of Finance of Hungary, as well as Deputy Governor of the National Bank of Hungary. “A quarterly or semi-annual debt bulletin for the province would be very useful for KP to look at”, Riecke urged.
The USAID funded Financial Market Development Activity (FMDA) Project is a multi-year project to assist and promote the development of competitive, deepened and diversified debt capital markets in Pakistan. The project will support the Government of Pakistan in strengthening domestic debt security issuances; support the improvement of regulatory frameworks for efficient debt capital markets as well as promote trading and secondary markets.