August 06, 2023 (MLN): The Executive Committee of the National Economic Council (ECNEC) on Saturday considered and approved projects worth Rs110.38 billion in various sectors, said a press release issued by the Finance Division on the same day.
The ECNEC considered and approved a Punjab Government project titled “Developing Resilient Environment and Advancing Municipal Services (DREAMS-I)” at a cost of Rs64.48bn ($225 million) including ADB loan of Rs51.58bn ($180m) and local component of Rs12.90bn ($45m) by the Punjab government.
The project aims to enhance climate resilience and urban living and health conditions for about 2.9m in Rawalpindi and Bahawalpur cities of Punjab province.
The committee also considered the project regarding the Prime Minister’s National Programme for Solarization of agriculture Tube wells in Sindh, Punjab, Khyber Pakhtunkhwa and Baluchistan provinces and allowed to include Islamabad Capital Territory (ICT) rural areas into its scope.
The ECNEC considered and approved a revised/updated project of Sindh Government titled “ Karachi Neighborhood Improvement project (KNIP)” at the cost of Rs18.81bn ($85.61m) including a World Bank loan of Rs16,71bn ($76.07m).
The revised/updated project envisages the improvement/upgradation of the infrastructure of Karachi City in Karachi South, Korangi, and Malir districts.
The ECNEC considered and approved a project of Gilgit –Baltistan Government titled “Rural Development and Climate Resilience Project” at an updated cost of Rs16.26bn with foreign financing of Rs1.106bn.
The project envisages improving the sustainability of living conditions and resilience to climate change and natural disasters of Gilgit-Baltistan households and communities.
The ECNEC also considered and approved a project titled “Feasibility/cost estimate for Dualization of Sialkot-Eminabad Road upto Kamoki including a link to Motorway: 65 km” at the cost of Rs10.83bn with 50% cost sharing between Federal and Punjab government and decided that National Highway Authority (NHA) execute the project.
Planning Commission submitted a summary regarding the Outsourcing of Islamabad International Airport (IIA) under PPP mode, the ECNEC approved the project proposal.
This will undertake the modernization of the existing infrastructure of Islamabad International Airport and associated facilities by attracting private sector participation, bringing in international expertise to improve service quality and efficiency, and implementing the latest international standards to stimulate aviation activities and growth.
The meeting was chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Mr. Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Federal Secretaries and other senior officers from Federal Ministries and Provincial departments.
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Posted on: 2023-08-06T13:34:52+05:00
