Government to Pursue Extension in BRT Loan Utilization Period
Peshawar: The Khyber Pakhtunkhwa government is to petition the Asian Development Bank for a one-year extension of the Peshawar Bus Rapid Transit project’s loan utilization period.
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The provincial cabinet has already granted the Peshawar Development Authority’s request for an extension of the ‘loan closure’ to finish civil construction on two bus depots and other project components.
According to the summary, the PDA, the executing agency for the bus project, stated that the civil work component of the project had been delayed due to the extension of the corridor, the revision of the construction drawings, the shifting of the utilities, the expansion of the scope of work, and contractor error.
According to the summary, the PDA also emphasized the fact that the interest rate accrued on the loan amount disbursed/utilized and commitment charges were permissible on an undisbursed amount, with the loan completion date for the ADB-funded component set for the fourth quarter of 2021.
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The head of the PDA stated that the ADB’s guidelines permitted giving the remaining contract to the subcontractors who were completing the project.
Following the construction of bus depots, the operator of the bus service, Trans Peshawar, will place orders for the remaining 60 buses.
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