ISLAMABAD, Sept 18: The government approved on Thursday 51 projects, including revival of the Karachi Circular Railway and construction of Cherah dam.The Central Development Working Party (CDWP), which met here with Deputy Chairman of Planning Commission Salman Faruqi in the chair, approved 42 new projects costing Rs237.7 billion.
The cost of nine projects was revised to Rs24.7 billion from Rs14 billion.In its first meeting of the current fiscal year, the CDWP approved Rs262.4 billion for the projects.The KCR project is expected to be executed in three years at a cost of Rs52.372 billion with a foreign component of Rs39.257 billion.The 50 km railway project will have 21 underpasses and overhead bridges and 23 stations in the city.
The Circular Railway would carry 700,000 passengers daily through 246 trains.Planning Commission Spokesman Asif Shaikh told newsmen that the foreign funding component for the projects was Rs91.2 billion.He said 32 projects of Rs238 billion related to infrastructure and 19 projects of Rs24.4 billion to social sector with foreign components of Rs30.81 billion and Rs9.90 billion, respectively
He said that the cost of 22 projects was over Rs500 million. The projects costing Rs255.50 billion were referred to the Executive Committee of National Economic Council for approval.He said 46 projects of Rs218.40 billion would be financed by the federal government, while 18 projects in Punjab, including 13 of the Multan Package costing Rs500 million, would be financed by the provincial government.
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