ECNEC Favors RS 361 Billion Projects
Islamabad: The government authorized nine big development projects at a cost of Rs 361 billion. Due to cost overruns and poor implementation, nearly all of them had to be brought before a project clearance body a second time.
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Shaukat Tarin, the federal minister of finance, effectively presided over the Executive Committee of National Economic Council (ECNEC) meeting, which approved all of the projects, including the 306-kilometer-long Hyderabad-Sukkur motorway that would be developed with private sector assistance.
According to the Ministry of Finance, ECNEC authorized the build, operate, and transfer (BOT) foundation for the building of the Hyderabad-Sukkur walled highway at the revised PC-I cost of Rs 191.5 billion.
According to the statement, the project will be carried out on a BOT-user-fee basis with the supply of capital and operational Sustainability Gap Funding (VGF) to increase its financial viability. The project is anticipated to be finished in 2.5 years.
The eastern corridor, also known as the China-Pakistan Economic Corridor (CPEC), which runs through the Islamabad-Lahore (M2), Pindi Bhattian-Faisalabad-Multan (M4), and Lahore-Abdul Hakeem-Multan-Sukkur-Hyderabad-Karachi road networks, links the ports of Karachi and Gwadar.
According to the Ministry of Finance, Tarin instructed the Planning Commission to give priority to projects that were strategic in character or could be finished faster to protect the exchequer from cost overruns and pointless delays.
ECNEC authorized the feasibility and dualization of the Mardan-Swabi Road at a revised PC-I cost of Rs 13.1 billion.
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