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, SAPM on Finance Mr. Tariq Bajwa, Senator Nisar Ahmed Khuhro, Federal Secretaries and other senior officers from Federal Ministries and Provincial departments participated in the meeting in the meeting. The ECNEC considered and approved a project of Government of AJK to be executed by Power Development Organization, AJK for Establishment of 48MW Shounter Hydropower Project in Neelam Valley District, AJK at a updated cost of Rs. 14,985 million including FEC of Rs. 12, 736.90 million. The project is to be financed 85% from the Saudi Fund for Development (SFD) and 15 % of the cost will be met through AJK ADP. The ECNEC also considered and approved in principle a project of Ministry of Kashmir Affairs and GB for the Establishment of Regional Grids in Gilgit-Baltistan Phase-I in Astore, Gilgit, Hunza, and Skardu Districts in GB at the revised cost of Rs. 17, 425.57 million with FEC of Rs. 1824.02 million subject to the reconsideration of bidding, construction and engineering estimates by the Planning Ministry. The ECNEC also considered and approved another project of Government of Gilgit Baltistan to be executed by W&P Department Gilgit-Baltistan of 26 MW Shagharthang Hydropower Project in District Skardu at the revised cost of Rs. 18,374.44 million including FEC of Rs.4461.03 million. A project of Govt. of Khyber Pakhtunkhwa namely the Khyber Pakhtunkhwa Rural Accessibility Project (KP-RAP) in multiple districts of KP Province to be executed by Communications and Works Department, Government of KP was also considered and approved by the ECNEC at a cost of Rs. 69,400 million including Foreign Aid /loan of Rs. 67,200 million to be provided by the WB and local component to be funded by the Govt. of KP. The repayment of the loan will be the responsibility of the Govt. of KP. The project envisages the upgradation of the rural accessibility to markets, education and health facilities through the rehabilitation of the rural road network of 768.4 kms in length. The ECNEC noted the progress report submitted by the planning Commission on meetings held with Govt of Punjab and Sindh on the Greater Thal Canal Project (Phase-II) in Layyah, Bhakkar, Khushab Districts.
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