ECNEC approves funds for Tarbela Extension Project, other schemes

Islamabad: The Executive Committee of the National Economic Council (ECNEC) on Tuesday provided its approval to six development schemes, including the Tarbela 4^th Extension project, according to a news source. These projects have a total estimated cost of PKR 216.5 billion.

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The approval was granted in meeting presided over by Advisor to the Prime Minister (PM) on Finance and Revenue Dr Abdul Hafeez Shaikh. As per the news source, most of these projects will be completed in collaboration with the World Bank, which will provide finances for these schemes in the form of funds.

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The meeting approved funds worth PKR 122.9 billion for the Tarbela 4^th Extension Project, the cost of which has increased by 47% as compared to the previous estimates of PKR 83.6 billion due to inflation. The extension project will increase Tarbela’s electricity generation from the current production of 3,478MW to 4,888MW.

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Other details on funds approved by the ECNEC for respective projects are as follows:

• PKR 15.52 billion for Southern Punjab Poverty Alleviation Project
• PKR 12.08 billion for High Education Development in Pakistan
• PKR 39.7 billion for Pakistan Multi-Mission Communication Satellite System
• PKR 12.8 billion for Renewable Energy Development Sector Investment Programme (3^rd Revision)
• PKR 13.4 billion for Evacuation of Power from Wind Power Projects at Jhimper and Gharo Wind Clusters