PCP – Lack of management capacity affects development projects

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KARACHI: The Planning Commission of Pakistan has said that development projects tend to suffer because of lack of professional management capacity.

It launched a report on Public Sector Development Programme (PSDP) projects, which identified that continuing fiscal policy difficulties have not only starved projects of financing, but have also made funding volatile at the cost of project implementation.

Besides, cost overruns and penalties were continuously being incurred as a result while land acquisition that remains variable is continuously inflating costs.  Continue reading

Zardari invites Chinese businessmen to invest in Pakistan

President Asif Ali Zardari of Pakistan, Tuesda...

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Beijing: Pakistan President Asif Ali Zardari, who is currently visiting China‘s Xinjiang province, Wednesday met several top Chinese industrialists and invited them to invest in his country.

Pakistan which is a growing economy with around 180 million people and had huge untapped natural resources coupled with the government’s pro-investment policies and incentives such as no restriction on equity or repatriation of capital gains, was an attractive place for foreign investors, Zardari told the Chinese investors. Continue reading

US plans to extend financial support for Bhasha Dam

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ISLAMABAD (APP) – The US is considering financial support for a $12 bln Diamer Basha Dam in an attempt to improve its battered image in the country, reports Guardian.

According the newspaper report, the Daimer Bhasha dam would provide enough electricity to end Pakistan‘s crippling shortages.

“It is said its reservoir would hold so much water it could have averted last year’s devastating floods”, the Guardian report said.

It added that Washington has not yet made a final decision on the dam, but US money would be crucial in securing other international finance, especially from the Asian Development Bank. Continue reading

Public sector development report launched

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Islamabad—The Planning Commission of Pakistan (PCP) has launched its Public Sector Development Projects Report highlighting the completion of 167 development projects costing Rs.95, 294.12 million.

According to Planning Commission sources, the commission was charged with delivering growth through planning and projects’ implementation.

“Through nine plans and several `visions’ and other well researched documents, the Planning Commission has tried to work this mandate” the sources said.

What endured in the Planning mechanism have been the “Public Sector Development Plan” and the “projects” it funds”, they remarked. Continue reading

Planning Commission of Pakistan announces completion of key projects

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ISLAMABAD: Planning Commission of Pakistan has announced completion of some key infrastructure projects funded under Public Sector Development Programme. The projects completed include Mirani Dam, Sabakzai Dam Project, Khirther Canal Project and Gwadar Deep Water Port Project including additional dredging.

According to the details released by Planning Commission, Mirani Dam has been completed at District Kech, Balochistan Province by Ministry of Water and PowerContinue reading

‘Safety’ pushes property prices up in Lahore

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LAHORE: The real estate market in Pakistan’s second largest city Lahore, particularly in the Defence Housing Authority (DHA) neighbourhood, is booming again as worried citizens of largest city Karachi and tax evaders are buying property in the city.

The price of a one-kanal plot in DHA has risen by up to Rs3m in the last two months, real estate agents said on Monday. They attributed the increase to two factors: one, people in Karachi, Peshawar and Quetta, concerned about deteriorating law and order, are moving to Lahore as it is perceived to be safer; and two, tax evaders trying to hide their assets from the Federal Board of Revenue’s increased scrutiny are shifting their money to the poorly regulated property market. Continue reading

Qadir Gilani for housing schemes for low-income groups

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MULTAN: MPA and chairman Multan Beautification Plan Syed Abdul Qadir Gilani has asked Pak PWD department to design housing schemes for low-income groups to address their housing problem.

Estimates of the 3-5 marla housing schemes should also be prepared, he said while presiding over a meeting at the local circuit house to review the pace of progress on PM’s uplift package for Multan.

Abdul Qadir Gilani said that the housing experts should keep in mind that the price of a housing unit should not exceed Rs800,000 to Rs 10,00,000. Commissioner Khurram Agha said that officials should initially prepare estimates for 100 homes. Continue reading

CM sets Sept 15 deadline for Multan Road project

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LAHORE: Punjab Chief Minister (CM) Shahbaz Sharif has given directions regarding completion of Multan Road project by September 15 so that better travelling facilities could be provided to the citizens at the earliest.

Granting approval to the construction of flyovers at the canal on Ferozepur Road and an underpass at Qainchi near Chungi Amar Sidho, the CM directed that these projects be completed as soon as possible by utilising the resources provided by the city district government. Continue reading

CM to lay foundation stone of flyover at Rawal Chowk

Murree Road, Rawalpindi

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Rawalpindi

Chief Minister Punjab Muhammad Shahbaz Sharif would lay foundation stone of a flyover next month, to be constructed on Rawal Chowk and Chandni Chowk on Benazir Bhutto Road.

The project would be completed at a cost of Rs830 million while an underpass would also be built with more than Rs520 million at Chor Chowk on Peshawar Road Rawalpindi, which would also be started next month. Continue reading