MM News

ISLAMABAD: Just days before the government’s constitutional term is about to end, in an unprecedented move, the government approved eight development projects costing about Rs1.22 trillion on Thursday.

The meeting presided over by Finance Minister Ishaq Dar was attended by Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, federal secretaries, and other senior officers from the federal ministries and provincial departments.

The Ecnec considered and approved a revised project of the Ministry of Communication titled, “Dualisation of Rawalpindi–Kahuta road (28.4kms) including 4-lane bridge over Sihala Railway pass, Sihala bypass and Kahuta bypass” at a revised rationalised cost of Rs23,545.021 million on financing share of 50/50 basis by the federal and provincial governments.

The project will be executed by the NHA.

Meanwhile, the PAEC reportedly finalised the project financing with Chinese firms at about $4.18bn, which was later reduced by about $700 million on the intervention of top leadership of the two sides during Mr Sharif’s visit to China a few months ago.

Since the project’s groundbreaking has been performed, it was approved in principle by Ecnec on Thursday, but the Planning Commission has insisted that the PAEC should in the meanwhile meet major conditions.

On Thursday, Ecnec also approved the Ministry of Communication’s project for the dualisation of Rawalpindi-Kahuta Road (28.4km), including a four-lane bridge over Sihala Railway pass, Sihala bypass and Kahuta bypass at a revised cost of Rs23.55bn on a fifty-fifty financing share by the federal and provincial governments. The project will be executed by the National Highway Authority (NHA).