July 27, 2023 (MLN): The Executive Committee of the National Economic Council (ECNEC) on Thursday considered and approved projects worth Rs1.22 trillion in various sectors, said a press release issued by the Finance Division on the same day.
ECNEC considered and approved a project titled “Chasma Nuclear Power Project Unit-5 (C-5)” at a rationalized cost of Rs1.05 trillion with FEC of Rs187.1 billion and Chinese credit of Rs820.74bn to install a nuclear power plant of 1200 MW capacity in Mianwali.
The aforementioned project belongs to Pakistan Atomic Energy Commission (PAEC).
The Committee considered and approved the revised project of Ministry of Communication titled “Dualization of Rawalpindi –Kahuta road ( 28.4 km) including a 4-lane bridge over Sihala Railway pass, Sihala bypass and Kahuta bypass ” at a revised rationalized cost of Rs23.55bn.
The aforementioned project will be executed by NHA on a financing share of 50:50 basis by the Federal and Provincial Governments.
The ECNEC considered a revised project of Ministry of Defence Production titled “Infrastructure Up-gradation of Karachi Shipyard and Engineering Works (KSEW).”
The project envisages renewed underwater repair capability and concrete rehabilitation/up-gradation works for the restoration of existing two dry Docks for ships/ submarines.
The ECNEC approved the project at a revised updated cost of Rs10.69bn including FEC of Rs4.93bn.
Additionally, the Committee considered and approved a project titled “Construction of Abdul Khel Dhakhi- Kallurkot (45 km) road” at a cost of Rs. 14.26bn without FEC.
The project will be executed by NHA in Dera Ismail Khan District of KPK at 50:50 cost sharing between the Federal Government and KPK Government.
The ECNEC considered a revised project of Ministry of Water Resources titled “Garuk Storage Dam, district Kharan” to be executed by Irrigation Department, Balochistan Government in Kharan district.
The project aims at mitigating and storing flood waters of the Garuk River and providing water for irrigation.
The entity approved the revised project at a cost of Rs.27.75bn without FEC.
The ECNEC also considered and approved another project of Ministry of Water Resources titled “Remodeling of Pat Feeder Canal System in Baluchistan, district Naseerabad” at a cost of Rs61.79bn without FEC.
The project will be financed through the Federal and Provincial Governments on an 80:20 cost-sharing basis.
The ECNEC also considered and approved in principle a project of the Sindh Government on the Construction/Re-construction of Existing Schools in Sindh affected under Rain/Flood-2022 in Sindh at a cost of Rs12.34bn, with a 50:50 cost-sharing basis between the Federal and Provincial Governments.
The Planning Commission submitted a project of the Federal Board of Revenue titled “Investment Project Financing (IPF) Component of Pakistan Raises Revenue Project” at a cost of Rs21.52bn ($80m World Bank loan) to enhance tax to GDP ratio.
Under the project, mobile facilitation centers will be established in a phased manner. The ECNEC approved the project.
The meeting was chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, Federal Minister for Commerce Syed Naveed Qamar, SAPM on FinanceTariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Federal Secretaries and other senior officers from Federal Ministries and Provincial departments.
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Posted on: 2023-07-27T18:16:45+05:00
