ECNEC decision: 10 projects worth Rs157b approved
A high-level meeting, chaired by Finance Minister Ishaq Dar on Thursday, has approved 10 mega development projects costing Rs157 billion including procurement of vessels and construction of metro bus in Karachi with a modified design.
The uplift schemes were cleared by Executive Committee of National Economic Council (ECNEC), which will allow the executing agencies to commence civil works on the projects.
Some of the schemes are of strategic nature including construction of Islamabad-Raikot Section highway phase-I at a cost of Rs95.4 billion. The 120-kilometre-long road is part of the China-Pakistan Economic Corridor.
The ECNEC approved Green Line Bus Rapid Transit System from Municipal Park Saddar to KESC Power House Chowrangi Surjani, Karachi, at a total cost of Rs16.1 billion. The body not only cut the length of the route by 3.2 kilometres but also excluded the component of procurement of air-conditioned buses from the federal financing.
Earlier, Prime Minister Nawaz Sharif had announced to fund the project out of the federal kitty. The Sindh government sought Rs27.5 billion for construction of 21-kilometre-long lanes and buying 105 buses at a cost of Rs4.1 billion. However, the buses will now be bought by the provincial government.
According to the revised design, a 17.8-kilometre-long 2-lane dedicated signal-free bus rapid transit system will be constructed in Karachi. After completion the project will benefit 400,000 passengers per day.
The proposal by Ministry of Defense for procurement of six Maritime Patrol Vessels (MPVs) for Pakistan Maritime Security Agency with the total cost of Rs13.9 billion was also approved by ECNEC with the condition that the boats will be procured on concessional credit with prior approval of terms and conditions of loan by the Ministry of Finance.
Another proposal by Ministry of Railways for the Special Repair of 100 Diesel Electric Locomotives (DELs) was approved by the ECNEC which will cost approximately Rs5 billion. After repairs the locomotives would further improve freight and passenger service of Pakistan Railways.
The ECNEC approved two energy generation projects with the combined capacity of 75MW on a proposal moved by Ministry of Kashmir Affairs and Gilgit-Baltistan.
The proposal by Pakistan Audit Department on a Project for Improvement of Financial Reporting and Auditing (PIFRA) Phase II, 2nd revised project was approved by the ECNEC. The project has an estimated cost of Rs10.4 billion including foreign loan of Rs8.9 billion.
Published in The Express Tribune, December 5th, 2014.
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