Sept 05 , 2015
News
ECNEC approves transit trade system
APPISLAMABAD: National Economic Council’s (ECNEC) Executive Committee on Friday approved development of Integrated Transit Trade Management System (ITTMS) at Torkham, Chaman and Wagah border crossings.
The system will help establish modern trade and transit facilities. The decision was taken during an ECNEC meeting, which was chaired by Finance Minister Ishaq Dar. It deliberated on the development of ITTMS at length. The project would be implemented by Revenue Division with financing from Asian Development Bank. It would cost over Rs 31.686 billion, of which $250 million will be ADB loan. The committee also approved 3,000 scholarships for Afghan students. The government would provide Rs 4.2 billion for this scheme. The meeting was told that by June 2015, Rs 2.5 billion had been released for the project.
The council also approved Economic Transformation Initiatives in Gilgit-Baltistan. The project will cost Rs 12.31 billion, including soft loan of $89.98 million from International Fund for Agricultural Development (IFAD).
The project is aimed at transformation of the region through improvement in agriculture, land development and farm-to-market roads. It also includes value-chain development and social mobilisation. ECNEC also considered the project of Punjab Police Integrated Command Control and Communication (PP-IC3) Programme, which will cost Rs 13.8 billion. The committee also approved PM’s Youth Training Scheme 2015-18, which will cost Rs 23.5 billion. It also approved land acquisition for China-Pakistan Economic Corridor related KKH improvement project.
Courtesy www.dailytimes.com.pk