A high-powered executive panel approved more than half a trillion rupees in development spending, although not all of it will come from the current year’s budget.
By Muhammad Ali
ISLAMABAD: The coalition government of Pakistan Democratic Movement (PDM) swung into action Tuesday, approving development projects worth more than PKR 500 billion across Pakistan to kickstart development and economic activity in the country – although only a part of that spending will materialise over the current fiscal year.
Greenlit at a meeting of the high powered Executive Committee of the National Economic Council (ECNEC), chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, the sheaf of initiatives are highly weighted towards alternative energy, and will be seen as a powerful pivot towards the general election due before the year is out.
The ECNEC considered and approved a Project of Ministry of National food Security & Research titled “Prime Minister’s National Programme for Solarization of Agriculture Tubewells” in Punjab, Sindh, KP, and Baluchistan at a cost of PKR 377,236.275 million with a gestation period of three years.
Phase-I of the multi-year project will cost PKR 90 billion including 30 billion of PSDP and equivalent share by provincial governments as well as beneficiary farmers for financial year 2023-24.
The objective of this project – to be executed by the Ministry of National Food Security through Federal Water Management Cell (FWMC) and Provincial Departments of Agriculture – is to enhance agricultural productivity through clean and green energy by converting the existing 100,000 tube wells to solar PV power supply.
The ECNEC also considered and approved a project of the government of KP titled “Khyber Pakhtunkhwa Rural Investment & Industrial Support Project (RIISP) to be executed by government of Khyber Pakhtunkhwa (KP) in District Bajur, Khyber, Kurram, Mohmand, North Waziristan, Orakzai, South Waziristan, and erstwhile Frontier Regions.
The project will cost PKR 110,700 million including an IDA loan of USD 300 million from World Bank and government of Khyber Pakhtunkhwa share of PKR 29, 700 million (in kind). It will be completed in two phases i.e. Phase-I is six years (2023-2029) and Phase-II is also six years (2029-2031).
The ECNEC also considered a revised PC-I of an ongoing project of Sindh Government titled “Sindh Solar Energy Project (SSEP)” executed in the Sindh Province by Energy Department of government of Sindh at a revised cost of PKR 27,418.13 million including FEC of PKR 24,265.57 million.
The project is to be financed through WB loan i.e. IDA credit of USD 100 million (95.2 percent) and USD 5 million by the government of Sindh (4.7 percent). This on-going project will improve energy security and fulfil Pakistan’s international commitments on climate change.
The ECNEC further considered and approved a project of Ministry of Energy (Power Division) titled “Evacuation of Power from 800 MW Mohmand Dam HPP to the National Grid (PC-I)” at a rationalised cost of PKR 14,319.18 million including FEC of PKR 6,318.38 million.
Financed by the Asian Development Bank, the project is to be executed by National Transmission & Despatch Company (NTDC) in the districts Nowshera, Peshawar, and Mohmand of Khyber Pakhtunkhwa Province.
The ECNEC also discussed and approved a project of the Ministry of Communications titled “Construction of Lahore Bypass from Kala Shah Kaku Exit to KLM to Multan Road near Radio Station (40 km approx)” at a rationalised cost of PKR 34,446.585 million without FEC.
Financed entirely by the Federal government PSDP, the project will be executed by National Highway Authority (NHA) in districts Lahore and Sheikhupura of Punjab Province.
The ECNEC also considered and approved a revised project to be executed by Ministry of National Health Services, Regulation and Coordination and provincial health departments in collaboration with WHO and UNICEF titled “Emergency Plan for Polio Eradication” at cumulative cost of USD 1,784.90 million, for polio eradication and make Polio free Pakistan.
Also in attendance at the meeting were Federal Minister for Commerce Syed Naveed Qamar; SAPM on Finance Tariq Bajwa; SAPM on Revenue Mr. Tariq Mehmood Pasha; Senator Nisar Ahmad Khuhro; and Himayatullah Khan, Advisor Finance, KP Govt; besides federal secretaries and other senior officers from federal ministries and provincial departments.
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