Tag: planning commission

  • CDWP gives go-ahead to 10 development projects valued at Rs115 billion

    CDWP gives go-ahead to 10 development projects valued at Rs115 billion

    In a key meeting held on Friday, the Central Development Working Party (CDWP) approved a total of 10 development projects, with an overall cost of Rs115.458 billion.

    Out of these, eight projects totaling Rs17.297 billion were given the green light by the CDWP forum, while two projects, valued at Rs98.161 billion, were recommended to the Executive Committee of the National Economic Council (ECNEC) for final approval.

    Deputy Chairman Planning Commission Mohammad Jehanzeb Khan chaired the meeting, attended by Secretary Planning Awais Manzur, Planning Commission members, Additional Secretary Planning, and representatives from federal ministries and provincial governments.

    The meeting’s agenda covered a range of sectors, including agriculture and food, energy, governance, health, higher education, physical planning and housing, science and technology, transport and communication, and water resources.

    A notable project from the agriculture and food sector, the “Sindh Livestock and Aquaculture Development Project,” valued at Rs38.36 billion, was recommended to ECNEC for final approval.

    This World Bank-assisted project aims to improve competitiveness, inclusivity, climate resilience, and sustainability in Sindh’s livestock and aquaculture sectors.

    Another significant project from the energy sector, the “765/500/220/132kV Islamabad West Substation,” worth Rs59.801 billion, was also referred to ECNEC for final approval.

    This World Bank-backed initiative is part of the National Transmission and Modernization Project Phase-I and aims to address increasing power demands in the Islamabad region through a new substation and related transmission lines.

    The governance sector saw approval for the “Modernization and Upgradation of Pakistan Mint Phase-II” project, costing Rs2.48 billion, as well as the “Federal Project Management Unit (FPMU) Post-Flood 2022 Reconstruction Program” project, valued at Rs2.38 billion.

    In the physical planning and housing sector, five projects were discussed, including the “Smart Environmental Sanitation System and Landfill Project” in Gwadar, worth Rs3.277 billion, and the “Construction of Audit House, Lahore,” valued at Rs1,528.931 million. Both projects received approval from the CDWP forum.

    A project related to science and technology, the “Establishment of Regional Nuclear Safety Inspectorate at Lahore,” costing Rs515 million, was also approved by the CDWP. This project aims to enhance nuclear safety and oversight in the region.

    The approval of these projects underscores the government’s commitment to advancing critical infrastructure, promoting sustainable development, and addressing energy needs, among other priorities. The recommendations to ECNEC signal the importance of these projects for the country’s growth and development.

  • IMF mission to arrive tomorrow for final review discussions on Pakistan’s SBA

    IMF mission to arrive tomorrow for final review discussions on Pakistan’s SBA

    The International Monetary Fund (IMF) mission is poised to commence vital economic review discussions from March 14 to 18, 2024, marking the conclusive evaluation of Pakistan’s Standby Arrangement (SBA).

    Sources within the Finance Ministry have confirmed that the IMF mission is scheduled to touch down in Pakistan tomorrow night, kickstarting a series of pivotal discussions set to unfold over the next four days.

    During this intensive period, the IMF mission is slated to engage in comprehensive dialogue with Pakistan’s economic team. Key participants include representatives from the Finance Ministry, Energy Ministry, Federal Board of Revenue (FBR), State Bank of Pakistan (SBP), Planning Commission, and the Petroleum Division.

    Insiders suggest that the IMF mission will delve into discussions covering a spectrum of economic facets. Talks are expected to encompass various critical sectors, including finance, energy, taxation, and central banking.

    Furthermore, in parallel with these discussions, preliminary conversations are anticipated to unfold regarding the potential initiation of a new loan programme with the IMF mission. This prospect adds an extra layer of significance to the ongoing economic deliberations as Pakistan navigates its financial landscape in the pursuit of sustainable economic growth.

    Stay tuned for comprehensive coverage as the IMF mission engages in the final review of Pakistan’s Standby Arrangement, paving the way for crucial decisions that could shape the nation’s economic trajectory in the coming months.