During the recent meeting of the Executive Committee of the National Economic Council (Ecnec), several development projects in Azad Kashmir, Gilgit-Baltistan, and Khyber Pakhtunkhwa were given approval. These projects have a combined estimated cost of Rs120.185bn.
Chaired by Finance Minister Ishaq Dar, the committee meeting was attended by various government officials, including Minister for Planning and Development Ahsan Iqbal, SAPM on Finance Tariq Bajwa, Senator Nisar Ahmed Khuhro from Sindh, federal secretaries, and senior officers from federal ministries and provincial governments.
One of the projects approved by Ecnec is the establishment of a 48-megawatt Shounter Hydropower Project in Neelam Valley District, to be executed by the Power Development Organization on behalf of the AJK government.?
The updated cost for this project is Rs14.985bn, which includes a foreign exchange component (FEC) of Rs12.737bn. The funding for this project will primarily come from the Saudi Fund for Development (SFD) (85%), while 15% will be provided through AJK’s annual development plan.
Additionally, the Ecnec granted in-principle approval for a project by the Ministry of Kashmir Affairs and GB for the Establishment of Regional Grids in Gilgit-Baltistan Phase-I. This project, to be implemented in Astore, Gilgit, Hunza, and Skardu Districts in GB, has a revised cost of Rs17.425bn, including FEC of Rs1.824bn.
Another project approved by Ecnec is the 26MW Shagharthang Hydropower Project in District