ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) on Monday approved 13 development projects worth Rs335.61 billion, including revision of the cost of Dasu hydropower project.
The approval was given during an Ecnec meeting chaired by Adviser to the Prime Minister on Finance and Revenue Dr Hafeez Sheikh.
The meeting approved the foreign exchange component (FEC) of Rs189.793bn which constitutes 56.55 per cent of the total amount.
At the outset, the Ecnec approved “Dasu hydropower project (stage 1) revision of cost for land acquisition and built up of property”, subject to opinion of the Ministry of Law on the revision of cost of land and built up property. The Law Division is directed to give its opinion in a week’s time to save the project from further delay.
Ecnec okays Rs90.831bn revised cost for Dasu hydropower project
The Ecnec also approved the project at revised cost of Rs90.831bn with FEC of Rs79.584bn for the evacuation of power from 2,160 MW Dasu HPP stage 1, Dasu to Islamabad via Mansehra. The cost was revised upwards due to changes in the exchange rate. The Planning Division was directed to incorporate the exchange rate fluctuations in the cost of the project.
The meeting approved an updated cost of Rs85.912bn with a FEC of Rs35.049bn for the engineering procurement and construction of Balakot Hydropower project in Manshera, Khyber Pakhtunkhwa.
The Ecnec also approved two power projects – 1,223 MW(Gross) combined cycle Power Plant Balloki, District Kasur and 1,230 MW (Gross) Combined Cycle power plant at Haveli Bahadur Shah, District Jhang (second revised PC1). However, the approval was linked with the observations in both projects construction of Housing complex and allied facilities will be allowed at a rate of Rs5,000 per sq ft already permitted by Nepra as an ex-post facto case.
The Ecnec also approved the 220kV Head Faqirian Grid Station Along with 220 kV double Circuit Transmission line from Head Faqirian to Ludewala at an updated cost of Rs5.812bn including FEC of Rs2.991bn.
While reviewing the 500 kV HVDC Transmission System between Tajikistan and Pakistan for Central Asia- South Asia transmission interconnection (CASA1000).
Extension of Intensive Care Department of Mother-Child Health Centre and Children’s Hospital at Pakistan Institute of Medical Sciences (PIMS) at an updated cost of Rs4.270bn with FEC of Rs3.874bn was also approved.
The meeting approved KP Integrated Tourism Development Project at the cost of Rs17bn.
Revised cost of Rs4.629bn for the establishment and operation of basic education, community schools (BECS) in the country subject to the condition that honoraria to remaining BECS teachers with pending verifications may be made as per the Ecnec decision of January 9, 2019 was also okayed. Prior approval for paying off major cost of this project till December 2019 was also given.
The Ecnec approved the establishment of Pakistan Space Centre at Chakkri, Rawalpindi District at an updated cost of Rs29.506bn including FEC of Rs22.095bn. The Dualisation of Kuchlak-Zhob section of N-50 (305 km) was also approved at a rationalised cost of Rs63.601bn without FEC.
The Competitive and Livable City of Karachi Project (CLICK) with the sponsorship of government of Sindh and World Bank/IPF-IBRD was also approved at a total cost of Rs33.6bn.
Federal Minister for Planning, Development and Reforms Khusro Bakhtyar, Khyber Pakhtunkhwa Minister for Finance Taimur Saleem Khan Jhagra, Chairperson Planning and Development Board Sindh Naheed S. Durrani and Adviser to PM on Institutional Reforms and Austerity Dr Ishrat Hussain and other senior officials of Federal and provincial governments also attended the meeting.
Published in Dawn, July 16th, 2019