ECNEC approves six projects worth Rs110.3bn

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Saturday approved six projects of Rs110.3 billion, including the Karachi Neighborhood Improvement project (KNIP) at the cost of Rs 18,805.577 million

The meeting presided over by Finance Minister Ishaq Dar has approved revised/updated project of Sindh government namely “Karachi Neighborhood Improvement project (KNIP)” at the cost of Rs18,805.577 million (US$ 85.610 million) including World Bank (WB) loan of Rs16,709.389 million (US$ 76.067 million). The revised/updated project envisages the improvement/up gradation of infrastructure of Karachi City in Karachi South, Korangi, and Malir districts.

The ECNEC considered and approved a Punjab government project titled, “Developing Resilient Environment and Advancing Municipal Services (DREAMS-I)” at a cost of Rs 64,480.646 million (US$ 225 million) including ADB loan of Rs 51,584.517 million (US$ 180 million) and local component of Rs 12,896.129 million (US$45 million) by the Punjab government. The project will enhance climate resilience and urban living and health conditions for about 2.9 million in Rawalpindi and Bahawalpur cities of Punjab province.

Ecnec approves 7 projects

The meeting of the ECNEC also considered project regarding Prime Minister’s National Programme for Solarization of agriculture tube wells in Sindh, Punjab, Khyber-Pakhtunkhwa and Balochistan provinces and allowed to include Islamabad Capital Territory (ICT) rural areas into its scope.

The ECNEC considered and approved a project of Gilgit-Baltistan government “Rural Development and Climate resilience Project” at updated cost of Rs16,264 million with foreign financing of Rs1,1067 million.

The project envisages improving 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, “Feasibility/cost estimate for Dualisation of Sialkot-Eminabad Road up to Kamoki including link to motorway 65 kms at the cost of Rs10,825.113 million with 50 per cent cost sharing between Federal and Punjab governments and decided that the National Highways Authority (NHA) to execute the project.

The ECNEC also approved a summary of the Ministry of Planning regarding outsourcing of Islamabad International Airport (IIA) under public-private partnership (PPP) mode to undertake modernisation of 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 attended by Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha and others.

Copyright Business Recorder, 2023