Two mega projects worth Rs95 BN approved for Karachi: Sheikh

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Sheikh said on Thursday that two mega projects worth Rs 95 billion have been approved for Karachi.

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Speaking to media after attending a seminar, Dr Sheikh said that one of the big projects is regarding the construction of redline transport plan from Malir to Numaish area of Karachi.

An additional 2.7 million people will be given health cards and the government’s priority is to ease the lives of common people and cultivators, said the adviser to PM.

The approved schemes will help alleviate the condition of the public, and for the purpose of preserving the environment, a project has been approved to plant three billion trees, he said.

This year Rs2, 900 billion will be spent in paying loans. He lamented that the economic journey will be perilous and the tax net is decreasing, Sheikh added.

The pace of investment should be increased to help the country’s financial situation, he further added.

In a session of the Economic Coordination Committee’s (ECC) Executive Council under Dr Abdul Hafeez Sheikh, nine projects were approved. These projects were approved under the five-year National Agriculture Emergency Programme.

The projects pertain to increasing production of rice, wheat, sugarcane, oilseed etc.

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