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Home / Business / Ecnec okays 10 projects including Rs16b Karachi Green Bus System, 75MW GB power projects
Ecnec okays 10 projects including Rs16b Karachi Green Bus System, 75MW GB power projects

Ecnec okays 10 projects including Rs16b Karachi Green Bus System, 75MW GB power projects

ISLAMABAD: With the aim to decrease smog level in the environment of metropolis, the Executive Committee of National Economic Council (ECNEC) has approved Rs16.085 billion worth Green Line Bus Rapid Transit System for Karachi.

ECNEC, under the chair of Federal Minister for Finance Senator Mohammad Ishaq Dar, approved 10 projects including Green Line Bus Rapid Transit System from Municipal Park Saddar to KESC Power House Chowrangi Surjani, Karachi at a total cost of Rs16085.10 million. The project by Ministry of Communication envisages construction of 17.80 km long 2-lane dedicated signal free Bus Rapid Transit system at Karachi. JICA has conducted a detailed feasibility of the project and this corridor, after completion, shall benefit 400,000 passengers per day.

The Central Development Working Party (CDWP) already cleared the aforesaid project on November 28 and was recommended for ECNCEC for final approval. The Green Line Bus Rapid Transit System project is being undertaken on the directives of Prime Minister Nawaz Sharif. During a visit to Karachi in July this year, Nawaz Sharif had announced a federal grant of Rs15 billion for the metro bus project.

During the ECNEC meeting, Finance Minister, Ishaq Dar said, the project was a gift from the Prime Minister to the people of Karachi as it was being undertaken on his initiative.

Meanwhile, the ECNEC considered and approved two energy generation projects with the combined capacity of 75 MW on a proposal moved by Ministry of Kashmir Affairs and GB. The 40 MW Dowarian Hydro Power Project and 35MW Nagdar Hydropower project will be located in district Neelum, AJK and will be executed and operated by AJK Hydroelectric Board. The first project has total cost of Rs.5973.390 million and will be completed in 3 years. It is expected that the project shall generate annual income of Rs1258.95 million after its completion. The Hydropower project will be connected by laying 45km, 132 kv transmission line from Dowarian to 35 MW Nagdar hydro power project. The second one has the total cost of Rs6845.055 million which will be completed in 4 years and shall yield annual income of Rs 1076 million after its completion. Both these projects will generate electricity on economic rates for the uplift of the area.

The proposal by Pakistan Audit Department on a project for improvement of financial reporting and auditing (PIFRA) Phase II, 2nd revised project was approved by ECNEC after detailed deliberations. The project has an estimated cost of Rs.10335.367 million including FEC of Rs. 8930 million a world bank/IDA loan. The project has the scope of modernising government’s audit procedures and adopts internationally accepted auditing standards, which completed in Dec, 2014.

The Livestock and Access to Markets Project (LAMP) Punjab was also approved by ECNEC. The Project will cost Rs.3852.863million. It will be sponsored by Livestock and Dairy Development Department, Punjab. This project will strengthen the beneficiary communities including vulnerable women, private sector players and live stock and dairy development department. After execution, the project will bring 50pc increase in the net income of the targeted households and cause 50pc and 33pc decrease in mortality of cows/buffaloes and small ruminants respectively by the end of the project.