Goverment Release Fund of 37bln for CPEC

Total price of 31 CPEC development projects is Rs 1.62 trillion while Pakistan Tehreek-e-Insaf (PTI) government has allocated Rs 95.73 billion to this current fiscal year under PSDP.

They said the government has released Rs 360 million below PSDP 2019-20 for its preliminary design/drawing to get up-gradation/rehabilitation of main ML-I railway project, establishment of a sterile vent near Havelian beneath CPEC and hiring of design/drawing vetting consultants. Even the ML-1 Railway Project (Karachi-Peshawar) is an important strategic part of the CPEC and the government has allocated Rs 1.8 billion for its preliminary layout in the year 2019-20.

Out of this total allocation of Rs 16 billion below PSDP 2019-20, the Railway Division has thus far received Rs 5.4 billion for various development projects.

The authorities released Rs 114 million for the rehabilitation of terminal facilities and vents, and Rs 100 million to upgrade and renovation of railway stations.

According to the documents, government has allocated Rs 4.5 billion for upgrade of Pakistan Railway existing Main Line-1 (ML-I) and establishment of arid port near Havelian (2018-22) Phase-1 (CPEC) whereas the total cost of this project is Rs 324.66 billion.

The government has allocated Rs 555 million for New Gwadar International Airport job for current fiscal year while the total cost of project is 22.25 billion.

Meanwhile, the federal government has released Rs 257.17 billion (36.7 percent) including Rs 53.62 billion overseas aid (41.8 percent) for various continuing and new development projects under PSDP 2019-20 against the total budgeted allocation of Rs 701 billion.

The government released Rs 80.029 billion to the development jobs of National Highway Authority (NHA) out of Rs 154.966 billion budgeted allocation and Rs 26.78 billion have been released for Safety Enhancement against Rs 32.5 billion budgeted allocation.

The ministry released a total of Rs 30 billion, for example Rs 3 billion foreign aid, for Water Resources Division from Rs 85.73 billion, whilst Rs 4 billion have already been released for Interior Division against Rs 9.85 billion budgeted allocations for present financial year. The ministry also released Rs 16 billion to the development endeavors of Cabinet Division.

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