Islamabad: The Public-Private Partnership Authority (PPPA) Board on Thursday (March 31) decided to sign a Public-Private Partnership (PPP) agreement with the National Highway Authority (NHA) for Sukkur-Hyderabad Motorway (M-6) project, according to news sources.
In a meeting of the PPPA Board, chaired by Deputy Chairman Planning Commission Dr Mohammad Jehanzeb Khan, the project proposal for the development and operation of the Karachi Circular Railway (KCR) was approved. The meeting was attended by PPPA Chief Executive Officer (CEO) Malik Ahmad Khan, NHA Chairman retired Captain Muhammad Khurram Agha, Secretary Finance Division Hamed Yaqoob Sheikh, Secretary Planning, Development and Special Initiatives Abdul Aziz Uqaili, Private Sector Development members Akbar Ayub Khan, Asim Saeed, and others.
It is important to note that the PPPA board approved the project proposal for the construction of the M-6 project on PPP mode, at the estimated cost of PKR 307 billion. As per the details, the government will pay a capital Viability Gap Fund (VGF) of PKR 9.5 billion during the construction. The remaining amount will be financed by the concessionaire via toll income and its resources.
Moreover, the KCR project was sent to the Executive Committee of the National Economic Council (ECNEC) for approval. The ECNEC has approved the project at the cost of PKR 201 billion. The said project will include the construction of a 43-kilometre modern mass urban rail transit project, which is proposed to be built on a PPP basis. According to details, the KCR project will be awarded as a single package PPP contract. The concessionaire will be responsible for procuring mechanical and electrical components, executing civil works, and operating the project for 33 years period.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
