ISLAMABAD: A meeting of the Economic Coordination Committee (ECC) of the Cabinet has approved a technical supplementary grant of Rs1 billion for the rehabilitation of roads in the SITE area, Karachi.
Sources said that the approval was granted on a proposal moved by the Finance Division.
According to a proposal, the Finance Division stated that the Central Development Working Party (CDWP) has approved the rehabilitation/construction of roads in the SITE Industrial Estate Karachi project at a cost of Rs3,000 million to be funded by the federal government.
The Planning, Development and Special Initiatives (PD&SI) Division has accordingly made allocation for the project through adjustments in the public sector development programme (PSDP) 2022-23 on 27-12-2022 and has surrendered an amount of Rs1 billion in favour of the Finance Division to obtain Technical Supplementary Grant (TSG) of an equal amount.
The Finance Division stated that therefore, the approval of the ECC is solicited for TSG of Rs1,000 million (one billion rupees) in favour of other development expenditures “rehabilitation/con-struction of roads in SITE Industrial Estate Karachi”, in terms of Article 84 of the Constitution read with clause 23 of the Public Finance Management Act, 2019.
Copyright Business Recorder, 2023