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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a technical supplementary grant (TSG) amounting to Rs2.217 billion for the construction of 2nd circuit stringing from Jiwani to Gwadar during the current fiscal year 2023-24.

The Ministry of Energy (Power Division) put up a summary to the ECC, a copy of which is available with Business Recorder stating that the revised PC-1 for the PSDP project construction of 2nd circuit stringing from Jiwani to Gwadar was approved by the Central Development Working Party (CDWP) on March 15, 2024, with total cost amounting to Rs4,540.010 million.

The Power Division will review its PSDP 2023-24 portfolio and re-appropriate funds to meet the increase in the cost of Rs2,217.00 million in the revised PC-I.

Gwadar transmission line: Iranian firm interested in execution of phase I contract accord

The meeting was informed that the Power Division analysed savings available within its portfolio and the projects with ample finalised included; (i) secondary transmission lines and grid stations (HESCO), savings Rs500 million; (ii) secondary transmission lines and gird stations (SEPCO), savings Rs500 million for the current fiscal year; (iii) installation of 2 X 660 MW Coal Fired Power Project Jamshoro, savings Rs617.00 million; and (iv) land acquisition for installation of 1,200MW solar power plant at District Layyah, savings Rs600 million.

Since these projects are being funded through Cash Development Loan (CDL) of the Finance Division; therefore, this Division requested the Finance Division for the surrender of funds from the aforementioned projects.

The Finance Division has advised this Division to take approval of ECC for the surrender of funds amounting to Rs2,217.00 million from development loans and advances by the federal government in favour of the Ministry of Energy (Power Division) to obtain a TSG of equal amount for execution of development project, “Construction of 2nd circuit stringing from Jiwani to Gwadar.”

The Ministry of Energy sought approval of the ECC for the surrender of funds amounting to Rs2,217 million in development expenditure of the Power Division during the current fiscal year.

Copyright Business Recorder, 2024

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