CDWP approves several development projects to stimulate foreign investment

The Central Development Working Party (CDWP) has approved nine significant development projects in order to expedite the mobilization of international financial assistance from both multilateral and bilateral lenders, as reported on November 4.

During a session presided over by Dr. Jehanzeb Khan, the Deputy Chairman of the Planning Commission, it was highlighted that these projects collectively represent a substantial investment of PKR 224 billion.

These initiatives cover a wide spectrum of sectors essential for the country’s development. It encompasses food and agriculture, education, energy, physical planning, and housing. Moreover, it also includes science and technology, social welfare, transport and communication, and water resources.

Read: CDA-DWP Greenlights Three IT Projects Worth Millions

The CDWP has granted its approval to five smaller projects with a combined budget of PKR 10.02 billion. Additionally, the committee has forwarded four larger projects, totaling PKR 213.86 billion, to the Executive Committee of the National Economic Council (ECNEC) for further scrutiny.

CDWP Granted Approval to 5 Smaller Projects

Here are the specifics of the endorsed projects:

• The Khyber Pakhtunkhwa Food Security Support Project, valued at PKR 24.64 billion (equivalent to USD 88 million), designed to aid farmers affected by the 2022 floods. The Asian Development Bank (providing USD 83 million) and Japan (providing USD 5 million) fully fund this project. Thus this relieves the provincial government of any financial responsibility.

• The Sindh School Rehabilitation Project, with a budget of PKR 83.19 billion (equivalent to USD 300 million). This set is to rehabilitate and upgrade schools in 17 districts that have impacted by natural disasters.

• The Women Inclusive Finance Development Programme, backed by the Asian Development Bank with over USD 100 million in financial support. This expected to cost PKR 31.41 billion. This initiative aims to stimulate economic growth by empowering women entrepreneurs.

• A substantial water sector project for Sindh, totaling PKR 74.62 billion, has received approval. This project focuses on enhancing the region’s barrages, a critical step toward improving water management and agriculture.

In addition, the CDWP has granted its approval to five development projects. Noteworthy among them is the “Rehabilitation of Schools in Balochistan Affected by Flooding” initiative, with a budget of PKR 1.4 billion. This project aims to restore schools that have severely affected by flooding in various districts. It also emphasizes the significance of education in regions struck by natural disasters.

Read: CDWP Approves 28 Development Projects Worth PKR 309.14 Billion

Furthermore, the CDWP has also given the green light to the first phase of the “Permanent Settlement of Indian Illegally Occupied Jammu and Kashmir (IIOJK) Refugees 1989 Onwards,” a PKR 3.1 billion endeavor. This initial phase specifically focused on the construction of 750 houses for families displaced from Indian-held Kashmir and now residing in Azad Kashmir.

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