The Executive Committee of the National Economic Council (ECNEC) has approved 8 projects worth Rs. 1,201 billion related to Infrastructures, nuclear power plants besides World Bank’s Pakistan Raises Revenue Project to enhance tax to GDP ratio.
Federal Minister for Finance and Revenue Ishaq Dar chaired the meeting of ECNEC on Thursday.
Finance Minister Senator Mohammad Ishaq Dar chaired today meeting of Executive Committee of the National Economic Council (ECNEC) which approved various national development projects including Chinese funded Chasma Nuclear Power Project,Dualization of Rawalpindi-Kahuta road(1/3) pic.twitter.com/s89Q2ZMcQe
— Ministry of Finance, Government of Pakistan (@Financegovpk) July 27, 2023
The Planning Commission submitted a project to the Federal Board of Revenue titled “IPF Component of Pakistan Raises Revenue Project” at a cost of Rs. 21.518 billion ($80 million World Bank loan) to enhance the tax-to-GDP ratio. Under the project, FBR will establish 30 mobile facilitation centers in the first phase and the second phase would be started on the successful execution of the first phase and after the approval of the Planning Commission.
The IPF component aims to eliminate the country’s fiscal constraints by reducing tax expenditure, increasing tax receipts by broadening the tax base, and to modernize and make FBR well-equipped with advanced ICT-based operations.
The ECNEC considered and approved a revised project of the Ministry of Communication titled “Dualization of Rawalpindi-Kahuta road (28.4 km) including 4-lane Bridge over Sihala Railway pass, Sinhala bypass and Kahuta bypass” at a revised rationalized cost of Rs. 23.545 billion on financing share of 50:50 basis by the federal and provincial governments. The project will be executed by NHA.
The ECNEC considered a revised project of the Ministry of Defence Production titled “Infrastructure Up-gradation of Karachi Shipyard and Engineering Works (KSEW).” The project envisages renewed underwater repair capability and concrete rehabilitation/up-gradation works for the restoration of existing two dry Docks for ships/ submarines. The ECNEC approved the project at a revised updated cost of Rs. 10.689 billion including FEC of Rs. 4.934 billion.
The ECNEC considered and approved a project titled “Construction of Abdul Khel-Dhakhi-Kallurkot (45 km) Road” at a cost of Rs. 14.257 billion without FEC. The project will be executed by NHA in the Dera Ismail Khan District of KP at 50:50 cost sharing between the federal government and the Khyber Pakhtunkhwa government.
The committee considered a revised project of the Ministry of Water Resources titled “Garuk Storage Dam, District Kharan” to be executed by Irrigation Department, Balochistan. The project aims at mitigating and storing flood waters of the Garuk River and providing water for irrigation. The ECNEC approved the revised project at a cost of Rs. 27.753 billion without FEC.
The forum also considered and approved another project of the Ministry of Water Resources titled “Remodeling of Pat Feeder Canal System in Balochistan, District Naseerabad” at a cost of Rs. 61.793 billion without FEC. The project will be financed through the federal and provincial governments on an 80:20 cost-sharing basis.
The ECNEC considered and approved a project of the Pakistan Atomic Energy Commission (PAEC) titled “Chashma Nuclear Power Project Unit-5 (C-5)” at a rationalized cost of Rs. 1,047 billion with FEC of Rs. 187.098 billion and Chinese credit of Rs 820.742 billion to install a nuclear power plant of 1,200 MW capacity in Mianwali.
The forum also considered and approved in principle a project of the Sindh government on the construction/reconstruction of existing schools in Sindh affected due to last year’s flood in Sindh at a cost of Rs 12.3 billion, with a 50:50 cost-sharing basis between federal and provincial governments.
Where do a the audit of past projects ?