The meeting of the ECNEC was held in Islamabad on Monday with Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Sheikh presided in the chair.
The chair also directed that the Ministry of Law may be requested to give its opinion in a week's time to save the project from further delay.
The project is financed by World Bank and WAPDA and is designed to provide 4,320 MW of electricity in two stages.
ECNEC also approved the project for the evacuation of power from 2,160 MW Dasu HPP stage 1, Dasu to Islamabad via Mansehra at a revised cost of 90831.69 million rupees.
The cost was revised due to changes in the exchange rate.
The authority also approved the "Engineering Procurement and Construction of Balakot Hydropower project, Mansehra at the updated cost of 85,912.926 million rupees.
The project will be sponsored and executed by Energy and Power Department, Government of Khyber Pakhtunkhwa.
Eighty percent financing for the project shall be from Asian Development Bank and twenty percent from annual development program of KPK government.
The Chair also directed to form a committee to look into the matter of filing a petition to NEPRA for reference tariff for public sector power projects.
While reviewing the "500 kV HVDC Transmission System between Tajikistan and Pakistan for Central Asia-South Asia transmission interconnection (CASA1000) Modified" the chair directed that the project may be brought back to the next meeting of the ECNEC by the Ministry of Planning after another round of consultation with the project stakeholders.
The forum also approved two Power projects on the same observations. They are the 1,223 MW (Gross) combined cycle Power Plant Balloki, District Kasur and 1230 MW (Gross) Combined Cycle power plant at Haveli Bahadur Shah, District Jhang.
ECNEC also approved the 220kV Head Faqirian Grid Station Along with 220 kV double Circuit Transmission line from Head Faqirian to Ludewala at an updated cost of 5812.08 million rupees.
It also approved Extension of Intensive Care Department of Mother-Child Health Centre and children hospital at Pakistan Institute of Medical Sciences at an updated cost of 4,270.588 million rupees.
ECNEC approved Khyber Pakhtunkhwa Integrated Tourism Development Project at the cost of 17,000 million rupees.
ECNEC approved the establishment of Pakistan Space Centre at Chakkri, Rawalpindi at an updated cost of 29,506.233 million rupees.
The Dualization of Kuchlak-Zhob section of N-50 was also approved by ECNEC at a rationalized cost of 63,601.56 million rupees.
The Competitive and Livable City of Karachi Project with the sponsorship of government of Sindh and World Bank/IPF-IBRD was also approved at a total cost of 33,600 million rupees including World Bank loan of 32,200 million rupees.