Islamabad: The Senate Standing Committee on Economic Affairs, chaired by Senator Saifullah Abro, met at the Parliament House to review ongoing foreign-funded projects and assess Pakistan's borrowing trends under IMF and multilateral programs. The Committee expressed serious concern over procurement irregularities in the ADB-financed CAREC Tranche-III (Rajanpur-DG Khan-DI Khan) project and questioned the transparency of NHA's procurement process.

Senator Abro termed the case one of the most serious procurement blunders in recent years, citing failure by joint venture partners to submit required audit and bidding documents. He criticized the NHA officials for concealing irregularities and noted that despite the Prime Minister's directive for a seven-day inquiry, no concrete progress had been reported. The Committee demanded that all correspondence with ADB, including the Prime Minister's Office letter, be shared for review.

The Chairman warned that the Rs. 172 billion mis-procurement issue must be rectified urgently, emphasizing that guilty officials will be held accountable. He directed NHA to share findings with ADB without delay and ensure project completion by June 2026.

In another discussion, the Committee sought clarification from the State Bank of Pakistan (SBP) regarding the sale of NBP's 45% shareholding in United National Bank Limited UK (UNBL UK) to UBL for £22 million. Senator Abro questioned how SBP issued a NoC for the deal and demanded transparency in the privatization process. SBP officials assured that the required data would be furnished before the next meeting.

The Committee also reviewed the implementation of the e-Pak Acquisition and Disposal System (EPADS) to curb corruption in public procurement. Senator Abro expressed alarm over Sindh's Irrigation and Works Departments' refusal to adopt EPADS, despite repeated SPPRA directives, and suggested referring the case to the FIA for investigation.

Discussing other projects, the Committee examined World Bank-funded Sindh Solar Energy Project (SSEP) and ADB's Sindh Road Sector Projects, noting duplicate beneficiary data, scope expansion beyond approved limits, and possible collusion in bidding patterns. It directed EAD and concerned departments to submit verified audit reports, bidder records, and beneficiary lists within ten days.

Concluding the meeting, Senator Saifullah Abro underscored that foreign-funded projects must uphold transparency and accountability. He reiterated that the Committee will maintain strict oversight to ensure that public resources and international aid are used solely for the development and welfare of the people of Pakistan.