By Hamid Mahmood ISLAMABAD, May 12 (INP-WealthPK): The Government of Pakistan has chosen to implement a Third-Party Inspection (TPI) system for development projects worth more than Rs10 billion to enhance project quality and execution. The following criteria will be used to pick the project:

• Infrastructure projects with a value of Rs10 billion or more, and social and other sector projects with a value of Rs1 billion or more
• Projects with a physical advancement of 40% to 80%
• TPI coverage will be for all sectors and areas

The TPI report will be shared with the ministries, divisions, and executing agencies for corrective action and compliance, according to the Ministry of Planning, Development and Special Initiatives. The ministries, divisions, and executing agencies will submit a list of projects for TPI based on the criteria, and by April 30, 2022, a one-page quick report on each project (highlighting important points, progress updates, issues/ difficulties, and next steps) will be requested. TPI's significance and use are growing by the day. Since most of these resources are already being used to meet the existing spending, the growing demand for development projects is straining the public resources to their limits. Due to the limitation of resources, especially for development, judicious use of public funds is required. TPI is one of the finest options since it allows the tracking of project performance throughout execution, identifies waste and offers remedial measures if necessary. TPI necessitates careful preparation for the selection of performance indicators, so these recommendations will be crucial. The key information of the monitoring framework is included in these policy guidelines and methodology (including the formation of the team, selecting significant performance indicators, collecting data through various methods, applying statistical, non-statistical, and mathematical techniques for analysis work, and interpreting the results). It also identifies important issues that may obstruct the project execution process, as well as possible remedies. It also defines the Directorate General Monitoring and Evaluation, Planning and Development Department's duty as the Government of Pakistan's TPI agency. An autonomous agency with a more critical and impartial scope of activity to examine public sector projects is referred to as a third-party inspection. The government has taken a positive step by evaluating development projects through third-party assessment. From the beginning to the end, transparency must be ensured. There is a need to emphasize the value of TPI-based project performance feedback, which may assist in enhancing future judgments on implementation techniques and their deficiencies throughout project execution. The Planning and Development Department of the Government of Pakistan should plan out awareness about the efficiency of third-party inspection or monitoring among other departments. Expenses for validation, on the other hand, should be deducted from the project's budget. If planning has to be applied in any meaningful sense by engaging third-party inspection for mega projects of industrial and services sectors along with the infrastructural sector, it will become easier to supervise the performance of these projects regarding their specific aims and objects. The planning and Development Department may make the decision to monitor these mega projects by involving third-party validation. There is a need to create project rating criteria that may be used to select projects for third-party review. Meetings with project stakeholders, representatives from key departments, consultants (chosen as TPI), and the Planning & Development Department may be held to create a third-party inspection or monitoring framework for the assessment of project performance.