ISLAMABAD: The Central Development Working Party (CDWP) cleared eight development projects at cost of Rs144.3 billion in which five projects worth Rs15.35 billion approved and referred three projects at cost of Rs129 billion to the Executive Committee of the National Economic Council (ECNEC) for final approval.
The CDWP met with Minister for Planning Ahsan Iqbal in the chair at P-Block Secretariat of the ministry on Tuesday.
The meeting was attended by Secretary Planning Awais Manzur Sumra, additional secretary planning, members of the Planning Commission, JCE (Ops), JCE (Ep), as well as respective federal secretaries’ heads of provincial and representatives from federal ministries and provincial governments. The projects were related to education, health, higher education, transport and communication and water resources sectors.
The minister noted that a more than 50 per cent of the total expenditure is consumed by debt servicing. He said that as 100 per cent of federal government net resources consumed by debt servicing and development budget is based on borrowing essential to ensure value for money through due diligence.
He urged that no compromise should be made on quality while preparing PC-I documents, and that national priorities should be considered when formulating any project. Poorly prepared project documents should be promptly returned to the respective ministries. The government is committed turning around the economy by implementing 5Es National Economic Transformation Plan and restore six per cent annual growth by 2029.
A project related to education presented in the meeting namely, “Reaching Out of School Children (OOSC) in AJK” worth Rs7,183.515 million was approved by the CDWP forum. The source of the financing is IsDB loan.
A project related to the health sector presented in the meeting namely, “Establishment of Nawaz Sharif Institute of Cancer Treatment & Research, Lahore” worth Rs52,772.520 million recommended to the ECNEC for consideration.
Copyright Business Recorder, 2024
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