Peshawar: The Khyber Pakhtunkhwa (KP) government has released PKR 7 billion for the construction of the Swat Motorway Phase-2 project, news sources reported on September 4.
The government released the funds as a part of the agreement signed under the Public-Private Partnership (PPP) model. As per the details, the government has released the funds for its share of PKR 14 billion for the project’s early completion. As per the agreement, the road project worth PKR 38 billion will be completed by the private firm on a 60:40 model, with the private firm spending PKR 24 billion while the provincial government will provide the rest.
Under the agreement, the firm will build the project under Build-operate-transfer (BOT) model. The firm will operate the project for 30 years, with the government getting 10% of the proceeds from toll plazas after 11 years.
It is vital to note that the KP government has paused ongoing development projects, citing the prevailing flood situation in the country as the reason, and has said that funding would be redirected to restoration and recovery efforts.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
