ISLAMABAD: President Asif Ali Zardari on Wednesday directed to explore ways for up-gradation of the Karachi-Hyderabad Super Highway into a Motorway (M-9) in 15 months.
During a review meeting, presided over by President Asif Ali Zardari, he directed that the work be completed within the stipulated period from the date of commencement of work on the project.
The President also directed Finance Minister Dr. Hafeez Sheikh and Sindh Finance Minister Syed Murad Ali Shah to hold meeting with the bidders and provincial authorities to finalize the modalities.
The President was informed that the Requests for Proposal have been submitted by two bidders; one from Malaysia and the other from Pakistan. These were being scrutinized from financial and evaluation perspectives.
It was informed that after issuance of Letter of Intent and Support, the project would enter into the stage of formal negotiations and signing of concession agreement with the qualifying firm by the end of this year.
The commencement of construction would start by early next year, the meeting was informed.
The meeting was attended among others by Finance Minister Dr.Hafeez Shiekh, Secretary General Salman Faruqui, Deputy Chairman Planning Commission Dr. Nadeem-ul-Haq, Syed Murad Ali Shah, Finance Minister Sindh, Federal Secretaries of Finance, EAD and Communication Divisions along with provincial secretaries and Chief Secretary Sindh Raja Muhammad Abbas.
The meeting reviewed the progress made so far on the up-gradation of M-9 Project which currently has a traffic volume of over 21,000 vehicles over 60% of which is heavy traffic in a day.
Spokesperson Farhatullah Babar and other senior officials were also present during the meeting.
The President said that the option of completing the project on the basis Public Private Partnership (PPP) and BOO (Build, Operate and Own) as an incentive to entrepreneurs to complete it expeditiously, be also considered.
The President said the project could also be divided into sections and subcontracted by the main contractor so to expedite the work on the project.
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