Executive Committee of National Economic Council Approves Projects worth PKR 335B
- ECNEC in its meeting approved development projects with a total cost of Rs335billion, including the Dasu hydropower project.
- Adviser to PM on Finance and Revenue chaired ECNEC meeting and directed Law Ministry to give its opinion within a week.
- The World Bank and WAPDA will finance the Dasu hydropower project.
The Executive Committee of the National Economic Council (ECNEC) approved 13 development projects worth Rs335.61 billion.
The approval was given during the meeting of ECNECchaired by Adviser to the Prime Minister on Finance and Revenue Dr. Hafeez Sheikh.
Dasu Hydropower Project:
In the beginning, the ECNEC approved the Dasu hydropower project (stage 1) revision of cost for land acquisition and built up of the property. The Law Division is directed to give its opinion within a week to save the project from further delay.
The project will be financed by the World Bank and WAPDA and is designed to provide 4,320 MW of electricity in two stages.
Foreign exchange component:
The meeting approved the foreign exchange component (FEC) of Rs189.793billion which constitutes 56.55% of the total amount.
Project for Evacuation of Power:
At a revised cost of Rs90.831billion with FEC of Rs.79.584billion, ECNEC approved the project for the evacuation of Power from 2,160 MW Dasu HPP stage1, Dasu to Islamabad via Mansehra.
Due to changes in the exchange rate, the cost was revised upwards. The Planning Division is directed to incorporate the exchange rate fluctuations in the cost of the project.
Balakot Hydropower Project:
The meeting also approved the engineering procurement and construction of the Balakot Hydropower project in Manshera, Khyber Pakhtunkhwa. The updates cost for this project is Rs85.912billion with an FEC of Rs35.049billion.
This project will be executed by Energy and Power Department, Government of Khyber Pakhtunkhwa. The financing for the project will be given by the Asian Development Bank and the annual development program of the government of KP.
Another Two Power Projects:
The ECNEC approved another two power projects; 1,223 MW(Gross) combined Cycle Power Plant Balloki, District Kasur and 1,230 MW (Gross) Combined Cycle Power Plant at Haveli Bahadur Shah, District Jhang (second revised PC1).
Head Faqirian Grid Station:
The meeting of ECNEC approved the 220kV Head Faqirian Grid Station along with 220 kV double Circuit Transmission line from Head Faqirian to Ludewala costing Rs5.812billion including FEC of Rs2.991billion.
The Extension of Intensive Care Department:
ECNEC approved the Extension of Intensive Care Department of Mother-Child Health Centre and Children’s Hospital at the Pakistan Institute of Medical Sciences (PIMS) was also approved at the cost of an update of Rs4.270billion with FEC of Rs3.874billion.
KP Tourism Development Project:
Khyber PakhtunkhwaIntegrated Tourism Development Project at the cost of Rs17billion was also approved in the meeting.
The revised cost of Rs4.629billion:
The revised cost of Rs4.629billion was also approved for the establishment and operation of basic education, community schools (BECS) in the country.
Establishment of Pakistan Space Centre:
The ECNEC also approved the establishment of Pakistan Space Centre at Chakkri, Rawalpindi District at an updated cost of Rs29.506billion with FEC of Rs22.095billion.
Dualisation of Kuchlak-Zhob:
At a rationalized cost of Rs63.601billion without FEC, the ECNEC also approved the Dualisation of Kuchlak-Zhob section of N-50 (305 km).
Competitive and Livable City of Karachi Project:
With the sponsorship of the government of Sindh and World Bank, the Competitive and Livable City of Karachi Project (CLICK) was approved at a cost of Rs33.6billion.
The meeting was attended by the Federal Minister for Planning, Development and Reforms KhusroBakhtyar, Chairperson Planning and Development Board Sindh Naheed S. Durrani, Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Khan Jhagra, PM Adviser on Institutional Reforms and Austerity Dr. IshratHussain and other senior officials also attended the meeting.