Pak: Rs 309.1 bn approved for various projects

Islamabad:: The Executive Committee of the National Economic Council (Ecnec), on Wednesday approved 23 new development projects costing Rs 309.1 billion, and revised the cost of nine ongoing projects from Rs 6.2 to Rs 8.2 billion. Total foreign exchange component (FEC) has been estimated at Rs 139.4 billion.

IN INFRASTRUCTURE SECTOR, ECNEC APPROVED 15 PROJECTS WORTH RS 132.2 BILLION: This meeting of Ecnec was the fourth during the current fiscal year. In the earlier three meetings, 84 projects costing Rs 368.5 billion were approved, said secretary planning and development (P&D) division Ghayasuddin Ahmad while briefing media after the meeting. Total number of projects approved so far this fiscal year is 116, costing Rs 685.9 billion, including FEC of Rs 260.5 billion.

In infrastructure sector, Ecnec approved 15 projects worth Rs 132.2 billion including FEC 69.9 billion. The same number of projects was approved in social sector costing Rs 183.3 billion with FEC 68.6 billion, said P&D secretary who was flanked by Planning Commission spokesman Muhammad Asif Sheikh and other senior officials. Two projects costing Rs 1.7 billion were approved in other sectors.

Of the 15 projects in infrastructure, 8 projects are of transport and communication, one of water resources, four of energy and two of physical planning and housing. Of the 15 social sector projects, six projects are of Higher Education Commission, including four projects of engineering universities being established with the help of China, Germany, Austria and Italy at Islamabad, Lahore and Karachi. The Pakistani students will get degrees of these universities in Pakistan.

The project of widening and improvement of Pattoki to Kanganpur 54.8 km long road in district Kasur costing Rs 0.6 billion will be financed by the federal and Punjab governments on 50:50 cost sharing basis. Two projects costing Rs 15.9 billion will be fully financed by the Punjab government. The construction of road from Nagor to Sunstar costing Rs 0.6 billion will be fully financed by the Balochistan government. The project of New Balakot city development costing Rs 12 billion will be financed from the Erra allocation of Rs 35 billion in the current fiscal.

Of the 116 projects approved so far this fiscal, 64 projects are included in the PSDP 2007-08 with allocation of Rs 23.8 billion. Of the 32 projects approved on Wednesday, 27 schemes are part of the current year PSDP with an allocation of Rs 8.8 billion.

In energy sector, uranium mining project (Taunsa 2), Dera Ghazi Khan worth Rs 2.386 billion including FEC of Rs 1.15 billion was approved. Water and Power division schemes of power transmission enhancement project worth Rs 20.19 billion, and establishment of 500 MW combined cycle power plant at Nandipur costing Rs 22.33 were also approved. Ecenec also revised the cost of detailed exploration of uranium resources in D G Khan Phase VII to Rs 0.85 billion.

In physical planning and housing, Ecnec approved two projects worth Rs 21.35 billion. Eight projects worth Rs 58.52 billion approved in transport and communication, one project costing Rs 6.57 billion in water resources. Five projects worth Rs 3.89 billion were approved in health, six projects costing Rs 171.35 billion in higher education, two projects worth Rs 3.4 billion in information technology, two schemes worth Rs 4.64 billion in science and technology, one project costing Rs 0.89 billion in devolution and area development and one scheme costing Rs 0.82 billion in industries and commerce were approved.