ECNEC approves 5 road, 2 hydropower projects

Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh chairing a meeting of the Cabinet Committee on State Owned Enterprises (CCoSOE's) in Islamabad on June 24, 2020.

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) has approved five road infrastructure projects, worth over Rs162 billion, and construction of two hydropower projects. Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired the meeting of the ECNEC here at Cabinet Division on Thursday. The ECNEC approved the Shikarpur-Rajanpur section of Indus Highway at a cost of over Rs44 billion. Construction of Rajanpur-DG Khan Section of N-55 as a four-lane highway was approved at a cost of over Rs33 billion. The ECNEC also approved dualization and rehabilitation of DG Khan-DI Khan section of N-55 at a cost of over Rs52 billion. Rehabilitation and up-gradation of Jhaljao-Bela Road at the total cost of over Rs11 billion was allowed by ECNEC. Likewise, Peshawar Northern Bypass project was also approved at a cost of over Rs21 billion. The ECNEC also approved the Locust Emergency and Food Security project. The World Bank will provide $200 million for the project. The ECNEC considered and approved the simplification of the Planning Commission/ Planning Division development processes/ procedure to improve project management. The construction of 157MW Madian Hydropower project, district Swat, under the World Bank-assisted Khyber Pakhtunkhwa Hydropower and Renewable Energy Development Programme was also approved by ECNEC at the total rationalized cost of Rs79,374.85 million with FEC of Rs57,339.33 million. The ECNEC directed that the sponsors will adhere to the IPP regime followed by NEPRA and all costs will be rationalized as per NEPRA cost structure. The sponsors will hire financial consultants to negotiate tariff and ensure least cost generation at an affordable price/ tariff of the hydropower project. The construction of 88MW Gabral Kalam hydropower project at an estimated cost of Rs36,430.188 million including FEC of Rs8,815.785 million was also approved by ECNEC with the following directions: the sponsors will adhere to the IPP regime followed by NEPRA and all cost will be rationalized as per NEPRA cost structure. The sponsors will hire financial consultants to negotiate tariff and ensure least cost generation at an affordable price/ tariff of the Hydropower Project. The sponsors will share with CDWP the progress achieved on the milestones given after six months of approval of the project from ECNEC. The ECNEC also approved evacuation of power from 2160MW Dasu HPP stage-I, Dasu to Islamabad via Mansehra, at the total cost of Rs132, 249.84 million with foreign exchange component of Rs. 112,228.74 million. The project is expected to complete in 5 years time and is proposed to be financed by the World Bank. TLTP

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