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Home Business

ECNEC clears eight projects of Rs174bn

by News Publishing
August 10, 2023
in Business, Economy
Reading Time: 3 mins read
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ECNEC clears eight projects of Rs174bn
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Before the transition of power, the departing government granted its approval for a total of eight new development projects, estimating a combined cost of roughly Rs174 billion.

These approvals were secured during the final meeting of the Executive Committee of the National Economic Council (Ecnec) under the PDM government, where Finance Minister Ishaq Dar presided. Several key officials, including Planning Minister Ahsan Iqbal, the prime minister’s special assistants Tariq Bajwa and Tariq Pasha, and representatives from various provincial departments, were also in attendance.

One of the significant projects approved by Ecnec is the “Resilient Housing Reconstruction and Restoration in Balochistan,” funded by the World Bank with a budget of Rs43.4 billion. This project aims to assist communities in Balochistan in rebuilding their homes, which were affected by the 2022 floods.

The implementation responsibility lies with the Government of Balochistan, working through the Federal Project Monitoring Unit (PMU) and the provincial Project Implementation Unit (PIU). The federal government will fully cover the cost through a World Bank loan, and the project is expected to conclude in 65 months, by December 2028. Under this initiative, each completely damaged house will receive Rs300,000, while a sum of Rs150,000 will be provided for units partially (over 50%) damaged.

The committee also granted approval for the “Punjab Urban Land Systems Enhancement Project,” a World Bank-funded endeavor with a budget of Rs26.44 billion. This project is overseen by the Punjab Board of Revenue (BoR) and executed through the Punjab Land Records Authority. The target for completion is 60 months, set for March 2027, with a focus on developing cadastral mapping, including digital land records for urban, peri-urban, and rural areas throughout Punjab.

Additionally, Ecnec endorsed a project titled “Establishment of Regional Grids in Gilgit-Baltistan Phase-I,” proposed by the Ministry of Kashmir Affairs & Gilgit Baltistan. The project has been rationalized in scope and cost, with a budget of Rs9.149 billion, including a foreign exchange component (FEC) of Rs1.679 billion. This initiative will be executed by the Water & Power Department in the Gilgit-Baltistan region, specifically in Districts Gilgit, Hunza, and Skardu.

Another approved project, without FEC, is the “Dualisation of road from Chistan to Chak no 46/3R via Dahrnawala (41.154 km) including a two-lane Link Road from Dahrnawala to Chaki 175m (4.859km).” This project, costing Rs8.963 billion, is set to be executed in District Bahwalnagar of Punjab Province by the National Highway Authority and the Ministry of Communications, with a cost-sharing basis of 50:50 between the federal and Punjab governments. Two essential water-related projects were also given the go-ahead.

The first, “Construction of Awaram Dam (Revised),” with a cost of Rs23.579 billion, will be executed in District Awaran of Balochistan by the Irrigation Department, Government of Balochistan. The second, “Construction of Panjgur Dam in District Panjgur, Balochistan,” received approval at a revised cost of Rs22.341 billion, without FEC. Similar to the first water project, this initiative will also be executed by the Irrigation Department in District Panjgur.

Furthermore, Ecnec approved a project from the Government of Sindh regarding the “Construction/Re-construction of Existing Schools in Sindh affected under Rain/Flood 2022 in Sindh (1800 units)” with a cost of Rs12.338 billion, based on a 50:50 cost-sharing basis. Lastly, a previously approved project, the Sindh Solar Energy Project, underwent reconsideration, leading to an updated cost of Rs27.418 billion.

Tags: Ecneceight projectslatestPDM

News Publishing

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