- ISLAMABAD: The Executive Committee of National Economic Council (Ecnec) approved 13 projects of the federal and provincial governments during a meeting held in Finance Minister Senator Muhammad Ishaq Dar in the chair.
It approved the establishment of “National Endowment Scholarships for Talent” (NEST) at a cost of Rs10 billion to be met from the PSDPs (2014-18). Minister for Planning and Development Ahsan Iqbal said that under the Vision 2025, the GoP is committed to making investment in youth for moving towards a knowledge-based society.
It also approved Acquisition of Land and Resettlement Diamer Bhasha Dam Project at a total cost of Rs101,372 million. The project envisages acquisition of 37,419 acres of land and resettlement of affectees for construction of Bhasha Dam Project. It may be mentioned that original PC-1 of Rs. 60 billion on the land rates fixed by the Dy Commissioner Diamer/ LAC as per Land Acquisition procedure was approved by ECNEC on 06 November 2008.
The body after detailed discussion recommended the land rates negotiated with the Affectees raising the land and assets cost from Rs 33.5 billion to Rs. 49.9 billion with additional settlement measures, the meeting was informed.
The meeting also approved Transmission Scheme (total cost Rs. 21,697 million) for Dispersal of Power from Neelum-Jhelum (969 MW), Karot (720MW) and Azad Pattan (650MW) Hydropower Projects. Accordingly 500 KV double circuit transmission lines to respective load centre would be constructed.
Weekly inflation rises 0.15pc, annual rate reaches 9.11pc
ISLAMABAD: Pakistan’s weekly inflation increased by 0.15%, pushing the annual inflation rate to 9.11%, according to the latest report released...
