Rs 25 bln earmarked for uplift projects in Karachi

ISLAMABAD: Finance Minister Miftah Ismail on Friday said the Prime Minister has announced a package of Rs 25 billion for Karachi to carry out major development schemes in the metropolis, including infrastructural and other social sectors facilities.Presenting budget speech in National Assembly, he underscored the significance of  the port city's  contribution toward  national economy, saying; "Karachi is the commercial and trading hub of Pakistan and has a major contribution in the country’s revenue base."The finance minister added that so far, three projects covering roads and flyovers and up-gradation of firefighting system had  been approved and Rs 3 billion had been earmarked during current financial year.He said an allocation of Rs 5 billion has been proposed in the PSDP-2018-19, adding, "on my personal request" the Minister for Planning Ahsan Iqbal had provided funds for expansion of Karachi Expo Centre.The minister said that the government has started issuing funds for the K4 water project in Karachi as it was agreed during tenure of the previous government that centre will pay one-third of the cost of  the project, adding that federal government would also accomplish  a new scheme of sea water desalination plant that will produce 50 million gallons of water per day for Karachiites.The minister   said the Green Line Rapid Transit System in Karachi is being funded by the federal government, adding that in the current financial year, Rs16 billion have  so far been spent on this project."On behalf of the federal government, I am today offering that if the Sindh government is unable to get buses for Karachi, the federal government will do so," the minister added.

from The News International - National https://ift.tt/2HDGc0d