October 30, 2018
Three New Road Projects Approved under CPEC
Pakistani govt grants three key road projects as part of the CPEC, which will be developed at a price of $1 billion jointly. The projects include of a 210-kilometer double roadway from Yarik to Zhob value Rs 76.5 billion, the 280-kilometer road from Raikot to Thakot at a price of Rs 8 billion, and a 110-kilometer road from Basima to Khuzdar which will surely price Rs 19.2 billion. The purpose of such as these projects in CPEC is to take place a smooth connection between Khunjerab and Gwadar, and these areas in Gilgit Baldistan and Balochistan are important programs of transportation for the CPEC route.
The govt accepted three new road facilities projects of the China-Pakistan Financial Area (CPEC) on Wed, which will be built at a price of $1 billion, with the aim of finishing the losing links to plug the Gwadar port with Kashgar.
The Professional Panel of National Financial Regulators (our bodies motivated with the highest economic decision-making power – approved these projects, which will assist in finalizing loan contracts with the China authorities.
The Joint Cooperation Committee – the CPEC’s decision-making whole body has already removed these projects in its sixth meeting held in China. Consequently, Pakistan presented financing request to China for the financing of these projects.
Meanwhile, the National Economic Council accepted two electricity transmission line projects to leave electricity generated at two nuclear power plant in Karachi, along with 1,320 megawatts from Thar coalmines energy place. It approved to lay a transmitting line at a price of Rs 21.8 billion for the evacuation of energy from Thar’s coal-based energy place.
The committee also accepted another transmitting line project at a price of Rs5.6 billion to plug Karachi atomic power plant having 2,200 megawatts generation potential with the national lines. The two atomic vegetation are organized for completion until 2022-23, under the government to government deal with China. Moreover, the National Economic Council accepted land purchase project for development of Faisalabad-Abdul Hakeem freeway at a price Rs4.3 billion. It also removed improvement and development of Jalkhad-Chilas road project value Rs7.8 billion.
Regarding the Natural Line Bus Rapid Transit project, the committee accepted an improved offer at a price of Rs 24.6 billion. The Central Development Working Party had also enhanced the budget the city bus project by 52%, along with accepting changes in its design. The project will now start from Surjani Town of Karachi and it will reach to Saddar.
Previously, the National Economic Council accepted 15 projects charging Rs 261 billion, such as two city bus projects in Karachi and Islamabad.
The National Economic Council also accepted Rs 16.5 billion for 26-kilometer long signal-free road connecting the Islamabad city with its new airport terminal that is being constructed in the suburban areas. There will be 10 city bus channels at regular durations, while four will be added at a later stage. Even though the new will become functional by Aug, the city bus project will take an inclusion 18 months. Additionally, the committee accepted doubling of the Indus road from Sarai Gam¬bila point to Kohat point at a price of Rs 30 billion. At present, the road is a one-lane road but is organized to include four lanes.
The whole body also removed 500-kilovolt Chakwal substation at a price of Rs 6.7 billion, which includes Rs 3.8 billion from foreign loans. For the improvement of modification potential, the committee accepted a project at a price of Rs 16.5 billion such as Rs 12 billion for a loan.