PKR 100 bn uplift projects, Kartarpur Corridor Phase-I approved

Islamabad: The federal government on Monday earmarked PKR 100.68 billion for six mega uplift projects and gave ex-post facto approval to the issuance of PKR 16.5 billion for Phase-I of the Kartarpur Corridor initiative, a news source reported. As per the publication, the Executive Committee of the National Economic Council (ECNEC) sanctioned these schemes.

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To this effect, Advisor to the Prime Minister (PM) on Finance Abdul Hafeez Shaikh chaired a meeting of the ECNEC. It was also informed that the projects would receive financing up to PKR 44 billion from international institutions.

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The funds earmarked for the various projects are given below:

• PKR 12.48 billion along with foreign exchange piece of USD 80 million for ‘Pakistan Raises Revenue Project’
• Ex-post facto approval of PKR 16.546 billion for the Kartarpur Corridor phase-I in Narowal district
• PKR 15.231 billion for Winder Dam project in Lasbela, Balochistan
• PKR 22.92 billion for the Katchi Canal project in Dera Bugti, Balochistan
• PKR 14.431 billion for Lahore Water and Wastewater Management project with USD 256 million loans from Asian Infrastructure Investment Bank
• PKR 19.071 billion for the phase-I of Eastern Wastewater Treatment plant in Faisalabad

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Moreover, the meeting constituted a committee under Minister Hammad Azhar to design a mechanism for the distribution of funds while keeping the needs of the provinces and preferences of the government.