ISLAMABAD: A meeting of the Executive Committee of the National Economic Council (ECNEC), Wednesday, approved four development projects worth over Rs120 billion for AJK, Gilgit-Baltistan, and Khyber-Pakhtunkhwa.
The ECNEC considered and approved a project of the government of AJK to be executed by the Power Development Organization, AJK, for the Establishment of 48MW Shounter Hydropower Project in Neelam Valley District, AJK at an updated cost of Rs14,985 million including foreign exchange component (FEC) of Rs12,736.90 million. The project is to be financed 85 per cent from the Saudi Fund for Development (SFD) and 15 per cent of the cost will be met through the AJK ADP.
The ECNEC also considered and approved in principle a project of the Ministry of Kashmir Affairs and GB for the Establishment of Regional Grids in Gilgit-Baltistan Phase-I in Astore, Gilgit, Hunza, and Skardu Districts in GB at the revised cost of Rs17,425.57 million with FEC of Rs1,824.02 million subject to the reconsideration of bidding, construction and engineering estimates by the Planning Ministry.
ECNEC approves over Rs1,312bn for uplift projects
The ECNEC also considered and approved another project of the government of Gilgit-Baltistan to be executed by the W&P Department Gilgit-Baltistan of 26-MW Shagharthang Hydropower Project in District Skardu at the revised cost of Rs18,374.44 million including FEC of Rs4,461.03 million.
A project of the Government of Khyber-Pakhtunkhwa namely, the Khyber-Pakhtunkhwa Rural Accessibility Project (KP-RAP) in multiple districts of KP Province to be executed by the Communications and Works Department, Government of KP was also considered and approved by the ECNEC at a cost of Rs69,400 million including foreign aid/ loan of Rs67,200 million to be provided by the WB and local component to be funded by the Government of KP.
The repayment of the loan will be the responsibility of the Government of KP. The project envisages the up-gradation of the rural accessibility to markets, education and health facilities through the rehabilitation of the rural road network of 768.4-km in length. The ECNEC noted the progress report submitted by the Planning Commission on meetings held with the governments of Punjab and Sindh on the Greater Thal Canal Project (Phase-II) in Layyah, Bhakkar, and Khushab districts.
The ECNEC meeting was attended by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, SAPM on Finance Tariq Bajwa, Senator Nisar Ahmed Khuhro, federal secretaries and other senior officers from federal ministries and provincial departments.
Copyright Business Recorder, 2023