ECNEC approves Rs1.2tr development projects

The Executive Committee of the National Economic Council (ECNEC) connected Wednesday gave its support to a broad bundle of improvement projects amounting to implicit Rs1.2 trillion connected Wednesday.

During the gathering chaired by Finance Minister Ishaq Dar, 1 of the large projects endorsed was the 48-megawatt Shunter Hydropower Project successful the Neelum Valley, which received the go-ahead from the authorities of Azad Jammu and Kashmir (AJK).

Valued astatine Rs14.98 billion, the task volition person Rs12.7369 cardinal (85 percent of the full cost) successful backing from the Saudi Fund for Development. The remaining 15 percent volition beryllium financed done the yearly improvement program of the Government of AJK.

Additionally, the ECNEC approved the constitution of determination grids successful the districts of Astor, Gilgit, Hunza, and Skardu successful Gilgit-Baltistan Phase-I, arsenic projected by the Ministry of Kashmir Affairs and GB. The project, estimated to outgo Rs17.42 billion, volition impact overseas backing of Rs1.824 billion, taxable to revision based connected bid, construction, and engineering estimates by the Ministry of Planning.

The Ministry of Finance besides reported that the ECNEC gave its motion to the revised program for the 26MW Shigarthing Hydropower Project successful Skardu district, with an estimated worth of Rs18.37 billion. Furthermore, overseas financing of Rs4.461.03 cardinal has been secured for this project.

In a abstracted decision, ECNEC approved the Khyber Pakhtunkhwa Rural Access Project worthy Rs69.40 billion. The project, which aims to heighten agrarian entree to markets, education, and healthcare facilities done the rehabilitation of a 768.4 km agelong agrarian roadworthy network, volition person overseas assistance and loans totaling Rs67.20 cardinal from the World Bank (WB).

The Department of Communications and Construction volition oversee the implementation of this task crossed assorted districts of the K-P. While the authorities volition money the bulk of the project, it volition besides beryllium liable for repaying the K-P loan.

During the meeting, ECNEC besides thoroughly reviewed the advancement study presented by the Planning Commission connected the meetings held with the Governments of Punjab and Sindh regarding the Greater Thal Canal Project (Phase-II) successful Leh, Bhakkar, and Khushab districts.