ECNEC approves 13 development projects worth Rs355 billion

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) approved 13 development projects, including revised cost for Dasu hydropower project. A total of Rs.355 billion was earmarked and approved for the projects by the committee chaired by Advisor to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Sheikh. Also, it approved a foreign exchange component (FEC) of Rs.189.793, which makes 56.55 percent of the total allocated amount.

A revision of the cost of Dasu hydropower project was made subject to the opinion of the Law Ministry, which would re-estimate the costs of land acquisition and property construction and submit the recommendations within a week’s time. For the evacuation of power from 2,160 MW Dasu HPP stage-I for Islamabad via Mansehra, the committee approved a revised cost of Rs.90.831 billion with FEC of Rs.35.049 billion. The purpose of the revised upward cost was to incorporate the exchange rate.

Other approved projects include:

The meeting was attended by Federal Minister for Planning, Development and Reforms Khusro Bakhtiar, Taimoor Saleem Khan Jhagra, Finance Minister KPK, Naheed S.Durani, Chairperson Planning and Development Board Sindh, and Ishrat Hussain, Advisor to PM on Institutional Reforms and Austerity among other officials from federal and previous governments.

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