The Executive Committee of the National Economic Council (ECNEC) on Wednesday approved a project of the government of Azad Jammu and Kashmir (AJK) for the establishment of 48MW Shounter Hydropower Project in Neelam Valley.
Finance Minister Ishaq Dar chaired the meeting of ECNEC which was attended by Federal Minister for Planning Ahsan Iqbal, SAPM on Finance Tariq Bajwa, Senator Nisar Ahmed Khuhro, Federal Secretaries, and other senior officers from federal ministries and provincial departments.
The ECNEC considered and approved a project of the AJK government to be executed by the Power Development Organization, AJK for the establishment of the Shounter Hydropower Project at an updated cost of Rs. 14,985 million including FEC of Rs. 12,736.90 million. The project is to be financed 85 percent from the Saudi Fund for Development (SFD) and 15 percent of the cost will be met through AJK ADP.
The ECNEC also considered and approved in principle a project of the Ministry of Kashmir Affairs and Gilgit-Baltistan (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 meeting also considered and approved another project of the GB government to be executed by the W&P Department for the establishment 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 the Khyber Pakhtunkhwa government namely the Khyber Pakhtunkhwa Rural Accessibility Project (KP-RAP) in multiple districts of KP to be executed by the Communications and Works Department 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 World Bank and local component to be funded by the KP government.
The repayment of the loan will be the responsibility of the KP government. The project envisages the upgradation of rural accessibility to markets, education, and health facilities through the rehabilitation of the rural road network of 768.4 km in length.
Picture for illustration purpose only.