Ecnec okays Rs775bn projects one week before govt exit

ISLAMABAD: Almost a week before transfer of power to a caretaker set-up, the Executive Committee of the National Economic Council (Ecnec) on Tuesday approved nine development projects worth Rs775 billion.

The Ecnec meeting, presided over by Prime Minister Shahid Khaqan Abbasi, approved revised costs of two major water sector projects worth Rs523.47bn.

It approved fourth revised PC-1 of the Neelum-Jhelum Hydroelectric Project at an updated cost of Rs506.808bn. The cost estimates for the project have been jacked up four times since 2002 when the plant was projected to be completed at a cost of Rs84.5bn.

Published in Dawn, 23rd May, 2018