ECNEC approves PKR 1.2tr development projects.

The Executive Committee of the National Economic Council (ECNEC) on Wednesday gave its approval to a comprehensive package of development projects amounting to over Rs1.2 trillion on Wednesday.

During the meeting chaired by Finance Minister Ishaq Dar, one of the major projects endorsed was the 48-megawatt Shunter Hydropower Project in the Neelum Valley, which received the go-ahead from the government of Azad Jammu and Kashmir (AJK).

Valued at Rs14.98 billion, the project will receive Rs12.7369 billion (85 percent of the total cost) in funding from the Saudi Fund for Development. The remaining 15 percent will be financed through the annual development plan...