ISLAMABAD-The Executive Committee of the National Economic Council (ECNEC) on Thursday approved development projects costing billions of rupees including Pakistan Atomic Energy Commission’s project “Chasma Nuclear Power Project Unit-5 (C-5)”.
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Executive Committee of the National Economic Council (ECNEC). The ECNEC considered and approved revised project of Ministry of Communication titled “Dualization of Rawalpindi –Kahuta road ( 28.4kms) including 4-lane bridge over Sihala Railway pass, Sihala bypass and Kahuta bypass ” at a revised rationalized cost of Rs23,545.021 million on financing share of 50:50 basis by the federal and provincial govts. The project will be executed by NHA.
The ECNEC considered a revised project of 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 restoration of existing two dry docks for ships/submarines. The ECNEC approved the project at a revised updated cost of Rs. 10,689.807 million including FEC of Rs. 4,934.564 million. The ECNEC considered and approved a project titled “Construction of Abdul Khel – Dhakhi- Kallurkot (45kms) road” at a cost of Rs. 14,257.294 million without FEC. The project will be executed by NHA in Dera Ismail Khan district of KPK at 50:50 cost sharing between the federal govt and KP govt.
The ECNEC considered revised project of 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 Rs. 27,753.763 million without FEC. The ECNEC also considered and approved another project of Ministry of Water Resources titled “Remodeling of Pat Feeder Canal System in Baluchistan, district Naseerabad” at a cost of Rs61,793.367 million without FEC. The project will be financed through federal and provincial government on 80:20 cost sharing basis.
The ECNEC considered and approved a project of Pakistan Atomic Energy Commission (PAEC) titled “Chasma Nuclear Power Project Unit-5 (C-5)” at a rationalized cost of Rs. 1,047,988.84 million with FEC of Rs. 187,098.96 million and Chinese credit of Rs. 820,742.99 million to install a nuclear power plant of 1200MW capacity in Mianwali. The ECNEC also considered and approved in principle a project of Sindh government on construction/re-construction of existing schools in Sindh affected under rain/flood-2022 in Sindh at a cost of Rs. 12,338.294 million, with 50:50 cost sharing basis between federal and provincial governments.
The Planning Commission submitted a project of Federal Board of Revenue titled “Investment Project Financing (IPF) Component of Pakistan Raises Revenue Project” at a cost of Rs. 21,518.677 million ( i-e $80 million World Bank loan) to enhance tax to GDP ratio. Under the project, mobile facilitation centers will be established in phased manner. The ECNEC approved the project. 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 federal ministries and provincial departments participated in the meeting.