Financial Updates

The blog "FINANCIAL UPDATES" consists on exclusive economic and commerce news about across the world particularly Pakistan economy

Saturday, August 31, 2013

ECNEC APPROVES 16 PROJECTS AMOUNTING TO RS.132 BILLION

The Executive Committee of the National Economic Council (ECNEC) has approved 16 projects amounting to Rs.132060.425 million. 

Of the total 16 projects, 12 projects relates to the energy sector amounting to Rs.96.484 billion including construction of 31.17MW Koto Hydro Power Project at estimated cost of Rs.7.508 billion.

The Executive Committee of the National Economic Council (ECNEC) was held under the Chairmanship of the Finance Minister Senator Ishaq Dar at the Prime Minister’s Office.

Of the total 16 projects, 12 projects relates to the energy sector amounting to Rs.96.484 billion including construction of 31.17MW Koto Hydro Power Project at estimated cost of Rs.7.508 billion.
Three projects amounting to Rs.41.391 billion were approved for projects located in Sindh, 2 projects amounting to Rs.9.814 billion were approved for Khyber Pakhtoonkhwa, one project amounting to Rs.3.306 billion in South Punjab, one project amounting to Rs.8.731 billion was approved in Balochistan, one project amounting to Rs.22.582 billion was approved for Azad Jammu and Kashmir, seven projects amounting to Rs.43.600 billion were approved in Punjab and one project of Rs.2.632 billion in Islamabad.

The ECNEC directed the Planning and Development Department to come up with an integrated plan for need of transmission lines for evacuation of electricity planned to be generated by 6600MW Thermal Plants at Gadani, 1200MW from Jamshoro, 2017MW Karachi Coastal Power Plants and other upcoming projects.

The meeting was informed that 90% work on Dera Ghazi Khan-Loralai transmission line has been completed while 70% work on Dadu-Khuzdar transmission has also been completed. As far as grid station at Dera Ghazi Khan is concerned it would be completed byApril 14.

Deferring the discussion on Kachhi Canal Project Phase I, ECNEC constituted a Committee headed by Deputy Chairman Planning Commission with Federal Secretary Planning and Development, Chief Secretary Balochistan, Chairman WAPDA, Advisor Finance Ministry and Secretary Irrigation, Government of Punjab as its members., The Chairman has been authorized to co-opt any member. This Committee will look into causes of delay in the Kachhi Canal Project and suggest a way forward in its report, to the next meeting of the ECNEC, so that it can be completed expeditiously

It was also decided that the next meeting of the ECNEC would be held before the end of next week.
It was also decided that fully funded projects by provinces should be fast tracked and submitted to ECNEC on priority basis.

The projects approved by the ECNEC include 3rd 500 KV AES – Jamshoro – Moro-R.Y, Khan & 500 KV Moro-Dadu T/Lines, Rehabilitation of Thermal Power Station, Jamshoro, Tranmission Scheme for Dispersal of Power from Neelum-Jhelum, Karot, and Azad Pattan Hydro Power Projects, 132KV New Substations, Conversion of 66KV Substations to 132KV, Associated Transmission Lines and Augmentation Sub-Projects, MEPCO, 132 KV New Substations, Conversion of 66KV Substations to 132 KV, Associated Transmission Lines Sub-Project (FESCO), Construction of 132 KV Double Cireuit Transmission Lines QESCO, Construction of 132 KV New Substations of Associated Transmission Lines, Extension and Augmentation Sub-Project (IESCO), Construction of 132 KV New Substations Conversion of 66 KV to 132 KV Substations and Associated Transmission Lines, PESCO, Construction of 132 KV New Substations and Associated Transmission lines, HESCO, Construction of 132 New Substations and Associated Transmission lines, LESCO, Interconnection of C3 & C4 Nuclear Power Plants, Construction of Koto Hydropower Project, Land Records Management and Information System Project, Rehabilitating Lower Chenab Canal System Part-B Project, Pakpattan Canal & Suleimanki Barrage Improvement Project and Punjab Economic Opportunities Programme.    

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