Shoring up local finances

The World Bank launched an important report titled ‘Realising the Potential of Pakistan’s Secondary Cities’ that discusses the challenges faced by urban centres in the country. On a similar theme, the Asian Development Bank unveiled ‘Pakistan National Urban Assessment’. Both documents focus on a multitude of issues, including local finances. The reports found that Pakistan is urbanising at a fast pace. The present urban population is 93.8 million or 36 per cent of the national total. However, it will reach 99.4m in 2030 or 40.7pc of the total figure. To realise the full potential of this vast population, urban basic services need to be extended in an operationally and financially sustainable manner. Cities require commensurate financial resources on a continuous basis to extend the benefit of a healthy life to their residents. At present, all the cities are starving of resources. Given the fact that urbanisation is irreversible, it will be apposite to examine the core factors that can help our cities become financially viable and autonomous entities.