Federal Minister for Finance and Revenue Ishaq Dar chaired the meeting of the Executive Committee of the National Economic Council (ECNEC) today.
The ECNEC considered and approved a Project of the Ministry of National Food Security and Research titled “Prime Minister’s National Programme for Solarization of Agriculture Tube Wells” in Punjab, Sindh, KPK, and Baluchistan at a cost of Rs. 377,236.275 million with a gestation period of three years.
Phase-I of the project will consist of Rs. 90 billion including Rs. 30 billion of PSDP and equivalent share by provincial governments as well as beneficiary farmers for the financial year 2023-24.
This project aims to enhance agricultural productivity through clean and green energy by converting the existing 100,000 tube wells into solar PV systems. The project is to be executed by the Ministry of National Food Security through the Federal Water Management Cell (FWMC) and the Provincial Departments of Agriculture.
The ECNEC also considered and approved a project of Government of Khyber Pakhtunkhwa titled “Khyber Pakhtunkhwa Rural Investment and Industrial Support Project (RIISP) to be executed by KP government in districts of Bajur, Khyber, Kurram, Mohmand, North Waziristan, Orakzai, South Waziristan, and erstwhile FR regions at a cost of Rs. 110,700 million including IDA loan of $300 million from World Bank and Govt. of Khyber Pakhtunkhwa share of Rs. 29,700 million (in kind). The project will be completed in two phases i.e. Phase-I is six years (2023-2029) and Phase II is also six years (2029-2031).
The ECNEC also considered a revised PC-I of the ongoing project of the Sindh Government titled “Sindh Solar Energy Project (SSEP)” executed in the Sindh Province by the Energy Department of Govt. of Sindh at a revised cost of Rs. 27,418.13 million including FEC of Rs. 24,265.57 million. The project is to be financed through a WB loan i.e. IDA credit of $100 million (95.2 percent) and $5 million by Govt. of Sindh (4.7 percent). This ongoing project will improve energy security and fulfill Pakistan’s international commitments on climate change.
The ECNEC further considered and approved a project of the Ministry of Energy (Power Division) titled “Evacuation of Power from 800 MW Mohmand Dam HPP to the National Grid (PC-I)” at a rationalized cost of Rs. 14,319.18 million including FEC of Rs. 6,318.38 million. The source of Financing for the Project is Asian Development Bank. The project is to be executed by National Transmission and Despatch Company (NTDC) in the districts of Nowshera, Peshawar, and Mohmand of Khyber Pakhtunkhwa Province.
The ECNEC also discussed and approved a project of the Ministry of Communications titled “Construction of Lahore Bypass from Kalashah Kaku Exit to KLM to Multan Road near Radio Station (40km approx)” at a rationalized cost of Rs. 34,446.585 million without FEC. The project is to be executed by National Highway Authority (NHA) in districts Lahore and Sheikhupura of Punjab Province. The project is to be financed entirely by the Federal government PSDP.
The ECNEC also considered and approved a revised project to be executed by the Ministry of National Health Services, Regulation and Coordination and provincial health departments in collaboration with WHO and UNICEF titled “Emergency Plan for Polio Eradication” at a cumulative cost of $1,784.90 million, for polio eradication and make Polio free Pakistan.
Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Senator Nisar Ahmad Khuhro, Federal Secretaries and other senior officers from Federal Ministries and Provincial departments participated in the meeting.
Source: Pro Pakistani