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 Planning, Development and Special Initiatives Mr. Ahsan Iqbal, Federal Minister for Commerce Syed Naveed Qamar, Planning & Development Minister of Baluchistan Mr. Noor Muhammad Dummar, Federal Secretaries, Chairman FBR and other senior officers from Federal as well as provincial participated in the meeting.
ECNEC considered and approved in principle Ministry of Railways modified PC-1for up-gradation of Pakistan Railways existing Main Line-1(ML-1) project at the total cost of US$ 9,851.079 million subject to recommendation of cost, technical details and preferably an equity participation financial model. Main Line -1 (ML-1) starts from Karachi, passes through Kotri /Hyderabad, Rohri, Multan, Lahore, Rawalpindi an terminates at Peshawar.
ECNEC also considered and approved in principle Karachi Circular Railway (KCR) Project at total cost Rs. 292,388 million with foreign share of Rs. 263,149 million. The project envisages construction of 44- kilometer long and dedicated track of modern urban Railway in Karachi starting from Drig road, passes through areas including Gulshan-e-Iqbal, Federal B area, Liaquatabad, North Nazimabad, Nazimabad, SITE, and Liyari.
ECNEC also discussed and approved in principle Establishment of 48 MW Shounter Hydropower Project in district Neelum, AJK subject to revision of cost based on exchange rate of dollar @ Rs. 220. The project envisages construction of 48 MW Hydro Power Project located on the lower part of Baral river which is right bank tributary of Neelum river, near Kel town village Shounter in Neelum Valley.
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