Dar chairs ECNEC meeting

Islamabad: 11th July, 2023 (Online): Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the Executive Committee of the National Economic Council (ECNEC), today.

Federal Minister for Commerce Syed Naveed Qamar, SAPM on Finance Tariq Bajwa, SAPM on Revenue Mr. Tariq Mehmood Pasha, Senator Nisar Ahmad Khuhro, Mr. Himayatullah Khan Advisor Finance KP Govt, Federal Secretaries and other senior officers from Federal Ministries and Provincial departments participated in the meeting.

The ECNEC considered and approved a Project of Ministry of National food Security & 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 Rs. 90 billion including 30 billion of PSDP and equivalent share by provincial governments as well as beneficiary farmers for financial year 2023-24. This project is to enhance agricultural productivity through clean and green energy by converting the existing 100,000 tube wells into solar PV system. The project is to be executed by Ministry of National Food Security through Federal Water Management Cell (FWMC) and Provincial Departments of Agriculture.

The ECNEC also considered and approved a project of Government of KPK titled “Khyber Pakhtunkhwa Rural Investment & Industrial Support Project (RIISP) to be executed by Govt. of Khyber Pakhtunkhwa in District 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 USD 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 and approved revised PC-I of on-going project of Sindh Government titled “Sindh Solar Energy Project (SSEP)” executed in the Sindh Province by 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 WB loan i.e. IDA credit of US$100 million (95.2%) and US$5 million by Govt. of Sindh (4.7%). This on-going project will improve energy security and fulfill Pakistan’s international commitments on climate change.

The ECNEC further considered and approved a project of 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 of the Project is Asian Development Bank. The project is to be executed by National Transmission & Despatch Company (NTDC) in the districts Nowshera, Peshawar, and Mohmand of Khyber Pakhtunkhwa Province.

The ECNEC also discussed and approved a project of 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 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 cumulative cost of US$ 1,784.90 million, for polio eradication and make Polio free Pakistan.