Home »Stocks and Bonds » Pakistan » World Bank to provide $100 million for reconstruction of highways

  • News Desk
  • Nov 9th, 2005
  • Comments Off on World Bank to provide $100 million for reconstruction of highways
The World Bank has agreed to provide a loan of $100 million for the rehabilitation and reconstruction of highways damaged due to devastated earthquake in NWFP and Azad Jammu and Kashmir (AJ&K). National Highway Authority chairman Major General Farrukh Javed announced this while presiding over the 134th executive board meeting, held here on Tuesday.

He said there is an urgent need to rehabilitate three highways in disaster areas in NWFP and AJK that have been badly damaged.

He apprised the meeting the World Bank has principally agreed to provide $100 million loan for the rehabilitation and reconstruction of these vital road links.

This additional financing will be provided by expanding the scope of existing national highway rehabilitation project being implemented by the NHA with the World Bank assistance.

The chairman said the amount would be utilised on Basian-Balakot-Mahindri-Naran (N-15).

The Balakot bridge has suffered displacement and major reconstruction and realignment at many places will be required including Bhattal-Thakot (N-35) and Kohala-Muzaffarabad-Chakoti.

Farrukh Javed informed the board the NHA has collected Rs 35 million for the President's Relief Fund and has also sent 115 truck-loads of relief goods while another 16 trucks have been handed over to JS HQ.

The executive board gave approval of award of construction, supervision and design review of Kalat-Quetta-Chamman section of N-25 to M/s SMEC at a negotiated price of Rs 1,805,935,01 million.

Widening and rehabilitation of Indus Highway from Sarai Gambila to Malana Junction and Ghulam Khan to Sarai Gambila was awarded to M/a PIVATO at a cost of Rs 1,875 million.

The construction of Gwadar-Jewani section of Makran coastal highway is awarded to FWO.

The board also approved the PC-1 for land acquisition, compensation and shifting of utilities for Faisalabad-Khanewal Motorway (M-4).

The board meeting was attended by Arif Mansoor, additional secretary (B&A) finance division, Malik Muhammad Afzal, member (finance) National Highway Authority, Firdous Alam, joint secretary, communications ministry, Karamatullah Chaudhry, president, Nespak, Ahmed Naseem, Inspector General, National Highway & Motorway Police, Raja Nowsherwan Sultan, member (planning) NHA, Muhammad Kazim Idris, NTRC chief, Altaf Ahmed Chaudhry, member (motorways) NHA and Imtiaz Hussain, director-general (administration) NHA.

Board members also appreciated the member (operations) and his team for developing a comprehensive Rs 7.43 billion Annual Maintenance Plan 2005-06.

Copyright Business Recorder, 2005


the author

Top
Close
Close