ECNEC approves project for establishment of 48MW Shounter Hydropower Project in Neelam Valley district.

ISLAMABAD -- The Executive Committee of the National Economic Council (ECNEC) Wednesday considered and approved a project of the government of AJK to be executed by the Power Development Organization, AJK for the Establishment of a 48MW Shounter Hydropower Project in Neelam Valley District, AJK at an updated cost of Rs. 14,985 million including FEC of Rs. 12, 736.90 million.

The project is to be financed 85% from the Saudi Fund for Development (SFD) and 15 % of the cost will be met through AJK ADP.

Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the meeting of the ECNEC, said a press release issued here.

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, SAPM on Finance Tariq Bajwa, Senator Nisar Ahmed Khuhro, Federal Secretaries and other senior officers from Federal Ministries and Provincial departments participated in the meeting in the meeting.

The ECNEC also considered and approved in principle a project of the Ministry of Kashmir Affairs and GB for the

Establishment of Regional Grids in Gilgit-Baltistan Phase-I in Astore, Gilgit, Hunza, and Skardu Districts in GB at the revised cost of Rs. 17, 425.57 million with FEC of Rs. 1824.02 million subject to the reconsideration of bidding, construction and engineering estimates by the Planning Ministry.

The ECNEC also considered and approved another project of the Government of Gilgit Baltistan to...