Rs1.22trn uplift plans approved by outgoing govt

ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) approved eight development projects of around Rs1.22 trillion on Thursday.

The meeting presided over by Finance Minister Ishaq Dar was attended by Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, federal secretaries, and other senior officers from the federal ministries and provincial departments.

The Ecnec considered and approved a revised project of the Ministry of Communication titled, “Dualisation of Rawalpindi–Kahuta road (28.4kms) including 4-lane bridge over Sihala Railway pass, Sihala bypass and Kahuta bypass” at a revised rationalised cost of Rs23,545.021 million on financing share of 50/50 basis by the federal and provincial governments.

Collaboration, not conflict, is needed for uplift, says Ahsan

The project will be executed by the NHA.

The Ecnec considered a revised project of the Ministry of Defence Production titled, “Infrastructure Up-gradation of Karachi Shipyard and Engineering Works (KSEW).” The project envisages renewed underwater repair capability and concrete rehabilitation/up-gradation works for the restoration of existing two dry docks for ships/submarines. The Ecnec approved the project at a revised updated cost of Rs10,689.807 million including FEC of Rs4,934.564 million.

The Ecnec considered and approved a project titled, “Construction of Abdul Khel–Dhakhi-Kallurkot (45kms) road” at a cost of Rs14,257.294 million without FEC. The project will be executed by the NHA in Dera Ismail Khan District of KPK at 50:50 cost sharing between the federal government and the KPK government.

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 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 government on 80:20 cost-sharing basis.

The Ecnec considered and approved a project of the Pakistan Atomic Energy Commission (PAEC) 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 install a nuclear power plant of 1,200 MW capacity 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 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 centres will be established in a phased manner. The Ecnec approved the project.

Copyright Business Recorder, 2023

The article, originally published July 28, said uplift plans worth Rs10.6 trillion were approved by the outgoing govt. The error is regretted, and has been rectified.