ECC likely to approve Rs739bn Karachi Transformation Plan

ISLAMABAD: The Economic Coordination Committee (ECC), in its upcoming meeting, is likely to approve the Rs739-billion Karachi Transformation Plan.

As per details, Finance Minister Dr Abdul Hafeez Shaikh has summoned the ECC meeting on Wednesday (tomorrow) to discuss 13 agenda items, including the Karachi Transformation Plan.

Sources said that the planning ministry had proposed the ECC to approve five Karachi infrastructure-related projects pertaining to water, railway and green bus services worth Rs739 billion in the next three years under the Public Sector Development Programme (PSDP), public-private partnership, Supreme Court fund and financing from foreign institutes.

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Other agenda items of the ECC included a technical supplementary grant (TSG) for a project of ICT administration, Islamabad; TSG for annual contribution of the government to the United Nations Population Fund (UNFPA), Partners in Population and Development (PPD) and Family Planning Association of Pakistan for the fiscal year 2018-19, 2019-20 and 2020-21; TSG to pay Pakistan’s outstanding contribution to the World Health Organisation; revision in relending policy 2016 for foreign loans/credits; implementation of approved recommendations of Mobile Device Manufacturing Policy and Electric Vehicles (2-3 wheelers and HCVs) as well as approval of new proposals related to automotive industry (four wheelers EVs and premium on vehicles); besides a new agenda item on Pakistani rupee-linked bonds programme.

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1 COMMENT

  1. The ECC meeting to Approve Rs.739-00 billion Karachi Transformation Plan 16 Dec.

    Five Karachi Infrastructure related Water, Railway, Green Bus,
    for next three years under PSD Program,
    Supreme Court Fund Financing from Foreign Institutes,
    Electric Device Manufacturing
    Mobile Device Policy and Premium Manufacturing.
    My humble submission for Water Related Infrastructure. Water conservation should be first priority, with smart water metering, stop leakages sourced from China by KWSB. Water charges be enhanced to finance development.
    China Pakistan bilateral trade treaty should be used for collaboration financing on Govt., to Govt., for collaboration/financing, JV’s, marketing, exports to the regional markets with Chinese investments for home market.
    China has launched the Digital Train, bullet train, should be launched here which should be financed by China for Beta Trails for international markets made here in Pakistan at CPEC infrastructure exported to China, and international markets from CPEC.
    China Pakistan bilateral trade corridor and CPEC are very important.
    All assembly, manufacturing of rail, car, EV, bus, Smart Devices, Smart Phone, Green Bus, Mobility whether Rail, Bus, today are digital.
    Pakistan have to learn from this JV for domestic and international markets at the CEPEC which will be funded by the CPEC.
    Recent China Auto show model should be studied and know the happenings there.
    Pakistan sponsored projects for rail will be covered by UIC, Paris which China is member. Pakistan has to only renew the UIC membership for railways, and start the global association to learn and earn. Car manufacturing OICA standards association/affiliation for local assembly. Pakistan hard earned dollars, or loans has to be repaid as well. Government of Pakistan hard earned FOREX. Bus manufacturing should be the model under CPEC from Volvo, Sweden for domestic and international markets. Volvo already sold to Geely China, we have to use credentials of Pakistan. Mobile Device Manufacturing, Assembly only feasible under. China is champion of the world. We should not waste our resources Forex, instead should think for international markets, standards, compliances for the integrity of Pakistan.

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