ISLAMABAD: The Executive Committee of National Economic Council (ECNEC) approved the development of Integrated Transit Trade Management System (ITTMS) for establishing modern trade and transit facilities at Torkham, Chamman and Wagah border crossing points.

The ECNEC, which met on Friday with Finance Minister Ishaq Dar in the chair, deliberated on the development of ITTMS at length.

The project would be implemented by the Revenue Division with the financing of Asian Development Bank. It would cost over Rs31.6 billion, including ADB loan of $250 million.

The committee under the prime minister's directives also accorded approval for awarding of 3,000 scholarships to Afghan students. The government would provide Rs4.2 billion for this scheme.

The meeting was told that up to June 2015, Rs2.5 billion was already released for the project.

The ECNEC also approved the economic transformation initiatives in Gilgit-Baltistan. The project entails a total cost of Rs12.3 billion, including soft loan of $89.98 million from International Fund for Agricultural Development (IFAD).

The project is aimed at transformation of the region through improvement in agriculture, land development and farm-to-market roads. The project also includes value chain development and social mobilization.

The ECNEC also considered the project of Punjab Police Integrated Command Control and Communication (PP-IC3) Programme with total cost of Rs13.8 billion.

The project was approved in principle with the directive that its cost should be rationalised.

The committee approved Prime Minister's Youth Training Scheme 2015-18 at total cost of Rs23.5 billion.

It also approved land acquisition for China-Pakistan Economic Corridor related Karakoram Highway improvement project — Islamabad-Raikot Section (Phase-I) Havelian-Thakot (120Km) — at total rationalized cost of Rs6.8 billion. It would be executed by the National Highway Authority.

The committee also approved the Yakmach-Kharan road project in Balochistan at an estimated cost of Rs 13.7 billion. The NHA would complete the project in 24 months.

It also discussed in detail Makhi Farash Link Canal Project (Chotiari phase-II), Sindh for water supply to Thar coal. It was decided that the federal and provincial governments would equally share the project cost of Rs.10.6 billion.

The committee also approved the revision of Shadi Kaur Dam as well as Ghabir Dam, Chakwal, Punjab.