Pak approves 45 projects worth PR 154-bn

Islamabad: The Executive Committee of National Economic Council (Ecnec) on Wednesday approved 45 development projects worth Rs 154.1 billion, with major allocation of over Rs 100 billion to infrastructure sector, said Engr Dr M Akram Sheikh, Deputy Chairman, Planning Commission.

Briefing media persons after Ecnec meeting, chaired by Prime Minister Shaukat Aziz, he said that the approved projects pertained to social welfare, energy, water, education, industries, commerce, agriculture and health.

Total foreign exchange component (FEC) has been estimated at Rs 36.8 billion. Of the approved projects, 39 are new with a cost of Rs 140.7 billion. The top planning body, Planning Commission, revised the cost of six projects upward--from Rs 7.5 billion to Rs 13.4 billion--reflecting a net addition of Rs 5.9 billion in the cost of the ongoing projects.

In the infrastructure sector, 29 development projects, costing Rs 100.8 billion, were approved. The Ecnec approved 7 projects, worth Rs 37.5 billion in social sector, and 9 schemes costing 15.8 billion were approved in other sectors, like agriculture, industries, commerce, etc.

The highest number of projects were approved for Punjab where the number of projects is 15 with a cost of Rs 45.5 billion, including an amount of Rs 4.4 billion as FEC.

In Sindh, the number projects is three, with a cost of Rs 21.6 billion, with FEC of Rs 11.2 billion. For the NWFP, the number of approved projects is five, costing Rs 15.1 billion, with FEC of Rs 5.1 billion. Similarly, five projects, worth Rs 7.2 billion, with FEC of Rs 2.3 billion, have been approved for Balochistan.

Fifteen projects, worth Rs 62.4 billion, with FEC of Rs 12.6 billion, have been approved for all over the country while two projects worth Rs 2.3 billion with FEC of Rs 1.2 billion are for Erra. Akram said that 30 projects, costing Rs 94 billion, would be financed by the Federal government, while 11 projects would be financed by the provincial governments at cost of Rs 52.5 billion.

Of the 15 projects located in Punjab, 4 projects have been approved on 50:50 cost sharing basis and the federal government will provide Rs 11.3 billion for the four projects. Of the three projects located in Sindh, one project will be financed by costing sharing basis for which the federal government will provide about Rs 4 billion.

The projects approved in the energy sector are Development of Renewable Energy in the NWFP costing Rs 4.7 billion, Renewable Energy Development Sector Investment Programme (Construction of Marala Hydel Power Station) costing over Rs 4 billion, Fuel Fabrication Plant, Pakistan Nuclear Power Fuel Complex (PNPFC) worth Rs 2.8 billion, Seamless Tube Plant-1, PNPFC, worth Rs 2.7 billion, Nuclear Power Fuel Testing Project, PNPFC costing Rs 1.129, Up-gradation of CHASCENT (CHASNUPP Center of Nuclear Training costing Rs 536 million, Import of Power from Iran for Gwadar costing Rs 3.66 billion and Rehabilitation of Jabban Hydroelectric Power Station of Rs 1.037 billion.

Planning Commission Deputy Chairman said that projects pertaining to nuclear energy would help the government to generate 8800 MW electricity targeted in the Energy Security Plan. These projects would provide the improved infrastructure for the development of nuclear energy in the future.

Ecnec approved 12 projects, worth Rs 36.74 billion, in transport and communication; three projects, worth Rs 30.36 billion, in water resources; one project of 7.66 billion in education; four projects worth Rs 24.36 billion in higher education; three projects costing Rs 5.83 billion in food and agriculture; 6 projects valuing Rs 9.83 billion in industries, commerce etc.