ISLAMABAD: Executive Committee of the National Economic Council (ECNEC) has given approval to the feasibility study for the formulation of a significant development projects and approved the major development projects.
Headed by federal minister of finance and revenue, Senator Mohammad Ishaq Dar, the Council met here on Saturday. Ministry of Planning, Development, and Special Initiatives issued the guidelines for conducting techno-economic feasibility studies for the development projects.
Guidelines: The ministry suggestedthat there should be a Project Development Facility (PDF) Fund for provincial Annual Development Programme in every province to conduct project feasibility studies. For all large cities, feasibility studies should be conducted with a focus on ring roads, wastewater treatment, urban mass transit, etc. To direct upcoming investments, a stack of feasibility studies should be available. It further recommended that before submitting the techno-economic feasibility framework or guidelines for ECNEC approval, improvements should be made in light of the feedback from all the significant stakeholders. The Development Manual must provide instructions for carrying out feasibility studies, it added.
Development Projects: The ECNEC-approved projects are financed by the government of Pakistan, Asian Development Bank (ADB), French Development Agency (AFD) and World Bank. These projects are co-financed by the federal government with AFD, ADB and World Bank. The Projects include add and upgrade 500 KV and 220 KV transformersat existing grid stations with project’s cost of Rs. 15,112.05 million, including FEC of Rs. 8,926.30 million, funded by the Asian Development Bank (ADB). ECNEC also, considered and authorized the Ministry of Energy’s (Power Division) project of 500 KV Sialkot Substation project having total cost, of Rs. 17,202.32 million, funded by the French Development Agency (AFD). AFD will also fund the project of upgradation of existing 220 kV to 500 kV Vehari substation approved by ECNEC which cost Rs 17,106.12 million.
The ECNEC also approved Allama Muhammad Iqbal Scholarship for Afghan students, having 4500 scholarships with cost of Rs. 12,702.340 million to facilitate and support the Afghans nationals and to enhance the socio-economic development of Afghanistan. The projects of Ministry of Communication’s which are N-25 Highway from Karachi to Kararo and Wadh to Khuzdar at a cost of Rs. 74,716.226 million and dualization of 83-kilometer Karao-Wadh portion and the 104-kilometer Kuchlak-Chaman part of the National Highway were also approved by the ECNEC. The Council also approved the improvement and widening of the 153-kilometer Chitral-Booni-Mastuj-Shandur Road, with a rationalised cost of Rs. 17,783.193 million and revised Lowari Road Tunnel & Access Roads Project was also approved by ECNEC, with total cost of Rs. 27,960.48 million.
For the development and improvement in the food security of the country, the project of Locust Control and Food Security Project of the Ministry of National Food Security and Research was approved by the ECNEC jointly funded by the government and World Bank with cost of Rs. 26,014.51 million.
It also approved Punjab’s Resilient and Inclusive Agriculture Transformation (PRIAT) project with a total cost of Rs. 74,757.60 million which will be financed by World Bank and government of Pakistan. Within five years, the project will be implemented across the entire province of Punjab.
