ZAHEER ABBASI

ISLAMABAD: The Executive Committee of National Economic Council (Ecnec) has approved eight projects worth around Rs 117 billion.

The Ecnec meeting chaired by Finance Minister Ishaq Dar after detailed deliberations gave its approval to the Development of Integrated Transit Trade Management System (ITTMS). The project will be implemented by the Revenue Division (FBR) with financing of the Asian Development Bank. The project would cost Rs. 31.686 billion, which includes an Asian Development Bank (ADB) loan of $250 million. Under this project, modern trade and transit facilities will be established at border crossing points at Torkham, Chamman and Wagah.

The Ecnec to extend support to the brotherly Islamic country in all important spheres including education, accorded approval for the award of 3000 scholarships to students from Afghanistan under Prime Minister’s Directives. Pakistan is providing Rs. 4.201 billion for this scheme. The meeting was briefed that up to June 2015 Rs 2.504 billion was already released for the project.

The Committee discussed and approved the economic transformation initiatives in Gilgit-Baltistan with a cost of Rs.12.315 billion project, including US$89.98 million, as a soft loan from International Fund for Agricultural Development (IFAD). The project is aimed at transforming the region through improvements in agriculture and land development and farm to market roads in Gilgit-Baltistan. The project also includes a value-chain development and social mobilization.

Punjab Police Integrated Command Control and Communication (PP-IC3) Programme was also approved with a cost of 13.817 billion. The project was approved in principle with the direction that the project cost should be rationalized. The meeting also considered and approved “Prime Minister’s Youth Training Scheme 2015-18” at a cost of Rs 23.594 billion. Land acquisition for the China-Pakistan Economic Corridor and the related KKH improvement was also approved for Islamabad-Raikot Section (Phase-I) – Havelian-Thakot (120km) – at a rationalized cost of Rs 6.859 billion. The National Highway Authority will be the executing agency for the project.

The Ecnec also considered and approved in principle the Yakmach-Kharan road project in Balochistan at an estimated cost of Rs 13.758 billion. National Highway Authority will be the executing agency for the project. It would be completed in 24 months. The meeting also considered in detail Makhi Farash Link Canal Project (Chotiari phase-II), Sindh, for water supply to Thar coal. The meeting decided that federal and provincial governments would equally share the project cost of Rs.10.612 billion. The Committee also approved the revision of Shadi Kaur Dam as well Ghabir Dam, Chakwal, Punjab.