On Thursday, the National Economic Council’s Executive Committee (Ecnec) authorized eight development projects worth approximately Rs10.6 trillion.
Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, federal secretaries, and other senior executives from federal ministries and provincial departments attended the meeting presided over by Finance Minister Ishaq Dar.
The Ecnec considered and approved a revised Ministry of Communication project titled “dualisation of Rawalpindi-Kahuta road (28.4kms) including a 4-lane bridge over Sihala Railway pass, Sihala bypass, and Kahuta bypass” at a revised rationalized cost of Rs23,545.021 million, with the federal and provincial governments sharing financing 50/50.
The NHA is going to execute the project.
The Ecnec deliberated on a revised Ministry of Defence Production project named “Infrastructure Upgradation of Karachi Shipyard and Engineering Works (KSEW).” The project calls for increased underwater repair capability as well as concrete rehabilitation/upgradation work for the restoration of two existing ship/submarine dry docks. The project was approved by Ecnec at a revised cost of Rs10,689.807 million, including an FEC of Rs4,934.564 million.
The Ecnec examined and authorized a project titled “Construction of Abdul Khel-Dhakhi-Kallurkot (45kms) road” for Rs14,257.294 million without FEC. The NHA will carry out the project in the Dera Ismail Khan District of KPK, with the federal government and the KPK government splitting the costs 50:50.
The Ecnec considered a revised project of the 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 ECNEC approved the revised project at a cost of Rs27,753.763 million without the FEC.
The Ecnec also considered and approved another project of the Ministry of Water Resources titled, “Remodeling of Pat Feeder Canal System in Balochistan, district Naseerabad” at a cost of Rs61,793.367 million without the FEC. The project will be financed through the federal and provincial governments on an 80:20 cost-sharing basis.
The Ecnec considered and approved a Pakistan Atomic Energy Commission (PAEC) project titled “Chashma Nuclear Power Project Unit-5 (C-5)” at a rationalised cost of Rs1,047,988.84 million with FEC of Rs187,098.96 million and Chinese credit of Rs820,742.99 million to build a 1,200 MW nuclear power plant in Mianwali.
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 Rs12,338.294 million, with a 50:50 cost-sharing basis between the federal and the provincial governments. The Planning Commission submitted a project of the Federal Board of Revenue (FBR) titled, “Investment Project Financing (IPF) Component of Pakistan Raises Revenue Project” at a cost of Rs21,518.677 million (i.e. $80 million 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.