CPEC’s Rs 20.7 billion projects gets ECNEC nod
China Economic Net
Islamabad: China-Pakistan Economic Corridor (CPEC)’s Pakistani Rs 20.7 billion project, the Karachi Circular Railway (KCR) infrastructure plan, has sailed through the Executive Committee of National Economic Council (ECNEC) – two days after the Planning Commission gave the approval.
On Tuesday, the Planning Commission had approved and forwarded the CPEC project to ECNEC for further consideration.
The project related to transport and communications was presented in the meeting namely “Construction of Infrastructure (flyover, underpass structure)” for the elimination of level crossing from the loop section of KCR.
The proposed structures will help eliminate 22 level crossings located from KCR loop from Drigh Road to Karachi City Station and shall also make it a reliable mode of public transport.
The project will be sponsored and executed by the Ministry of Railways, government of Pakistan and will be located in Karachi.
The ECNEC meeting presided over by Minister for Finance and Revenue Shaukat Tarin considered and approved the summary presented by the Planning Commission regarding the construction of infrastructure for the elimination of level crossings for the loop section of the KCR.
In his tweet, Minister for Planning, Development and Special Initiatives Asad Umar informed that Prime Minister Imran Khan would be the chief guest at the groundbreaking ceremony for the project in Karachi next week.
The ECNEC also approved a recommendation put forth by the Planning Commission that the Central Development Working Party (CDWP) will be authorized to consider the projects where ECNEC gives the decision to approve the project (in question) with the direction of rationalization of cost.
If the rationalization exercise results in a downward revision in cost, such projects will be accorded approval by the CDWP, and a status report shall be submitted for the perusal of the Chairman ECNEC.
In case of upward cost rationalization/revision, the project shall be re-submitted before ECNEC for consideration and approval.
Federal Minister for Planning Asad Umar and senior officials participated in the meeting. Federal Minister for Industries and Production Khusro Bakhtyar joined through a video link.
