By Staff Reporter
ISLAMABAD: Pakistan’s top economic body approved eight development projects worth around Rs10.6 trillion on Thursday, including a nuclear power plant, a storage dam, and a canal system.
The Executive Committee of the National Economic Council (Ecnec), chaired by Finance Minister Ishaq Dar, gave the green light to the projects in various sectors such as communication, defense production, water resources, and atomic energy, according to a statement.
The most expensive project was the Chashma Nuclear Power Project Unit-5 (C-5), which will install a 1,200 MW nuclear power plant in Mianwali district with Chinese financing. The project will cost Rs1,047.988 billion ($6.2 billion), of which Rs820.742 billion ($4.8 billion) will be a loan from China.
The Ecnec also approved the remodeling of Pat Feeder Canal System in Balochistan province, which will cost Rs61.793 billion ($363 million) and will be financed by the federal and provincial governments on an 80:20 cost-sharing basis. The project aims to improve irrigation efficiency and water management in the province.
Another major project was the infrastructure up-gradation of Karachi Shipyard and Engineering Works (KSEW), which will cost Rs10.689 billion ($63 million) and will enable the shipyard to repair ships and submarines. The project will be executed by the Ministry of Defence Production.
The Ecnec also approved four road projects in different parts of the country, totaling Rs52.055 billion ($306 million). These include the dualisation of Rawalpindi-Kahuta road, the construction of Abdul Khel-Dhakhi-Kallurkot road, the Garuk Storage Dam in Kharan district, and the construction/re-construction of existing schools in Sindh affected by rain/flood-2022.
The Ecnec approved an investment project financing component of Pakistan Raises Revenue Project, which will cost Rs21.518 billion ($127 million) and will be funded by a World Bank loan. The project will enhance tax-to-GDP ratio and establish mobile facilitation centers for taxpayers.
Copyright © 2021 Independent Pakistan | All rights reserved
