Ecnec okays Rs1.2 trillion development projects

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) has approved development projects of approximately Rs1.2 trillion, including the Chashma Nuclear Power Plant (C-5) with an estimated cost of Rs1.047 trillion with Chinese credit supply.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of Executive Committee of the National Economic Council (ECNEC) on Thursday.

The ECNEC considered and approved a project of the Pakistan Atomic Energy Commission (PAEC) “Chashma Nuclear Power Project Unit-5 (C-5)” at a rationalized cost of Rs1,047,988.84 million with a foreign exchange component (FEC) of Rs187,098.96 million and Chinese credit of Rs820,742.99 million to install the 1,200 MW capacity nuclear power plant at Mianwali.

The ECNEC considered and approved a revised project of the Ministry of Communication titled “Dualization of Rawalpindi–Kahuta road (28.4 kms) including a 4-lane bridge over Sihala Railway Pass, Sihala Bypass and Kahuta Bypass” at a revised rationalized cost of Rs23,545.021 million with the financial sharing of 50:50 basis by the federal and provincial government. It will be executed by NHA. It also considered a revised project of the 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 the restoration of existing two dry docks for ships and submarines. The ECNEC approved the project at a revised updated cost of Rs10,689.807 million, including FEC of Rs4,934.564 million.

The forum also approved a project titled “Construction of Abdul Khel–Dhakhi-Kallurkot (45 kms) Road” at a cost of Rs14,257.294 million. The project will be executed by NHA in the Dera Ismail Khan district of KPK at 50:50 cost sharing between the federal govt and KPK government.

The ECNEC considered a revised project of the Ministry of Water Resources titled “Garuk Storage Dam, district Kharan” to be executed by Irrigation Department, Balochistan government. The project aims at mitigating and storing flood waters of the Garuk River and providing water for irrigation.

The ECNEC approved the revised project at a cost of Rs27,753.763 million without FEC. The ECNEC also considered and approved another project of the 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 the federal and provincial governments on an 80:20 cost-sharing basis.