ECNEC approves projects worth Rs 154b


As the government continues to pass through a severe financial crisis, Finance Minister Hafeez Shaikh on Friday directed officials to refrain from making any commitment with foreign financial organisations without going through the proper procedure.
Chairing a meeting of the Executive Committee of the National Economic Council (ECNEC) that approved 15 projects worth Rs 154.52 billion, Shaikh asked the attendees to devise methods and ways to move ahead without giving an impression that any institution’s norm was being violated by the government.
Of the 15 projects, seven projects were in the energy sector, four in transport and communications and one each in the agriculture, food, industry, commerce, water resources, science and technology and information technology sectors.
The committee discussed the Islamabad Safe City project in detail and asked the National Database Regulatory Authority (NADRA) to present the case after devising a cost recovery mechanism, securing price reasonability.
The minister asked NADRA and other officials concerned to ensure transparency in the project so in future the projects might not fall prey to unnecessary litigation and objections.
The approved projects include Allai Khwar Hydro Project of 121 MW (Revised) PC-I, transmission interconnection for dispersal of power from Uch-II Power Project, rehablitation of Thermal Power Station Muzaffargarh, installation of 220/132 KV transformers in NTDC System, dispersal of power from 747MW power plant at Guddu and Renewable Energy Development Sector Investment Programme (REDSIP) Revised PC-I.