Rs25bn earmarked for Karachi infrastructure, social sectors: finance minister
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ISLAMABAD: Minister for Finance Miftah Ismail Friday said the prime minister has announced a package of Rs25 billion for Karachi to provide infrastructural and other social sectors facilities.
"Karachi is the commercial and trading hub of Pakistan and has a major contribution in the country’s revenue base. The PML-N government after coming to office in 2013 successfully restored law and order in Karachi giving confidence to the business community and rejuvenating economic activity there," Ismail said in his budget speech in the National Assembly on Friday.
The finance minister said that so far, three projects covering roads and flyovers and upgradation of firefighting system had been approved, and Rs3 billion had been earmarked during current financial year.
"An allocation of Rs5 billion has been proposed in the PSDP (Public Sector Development Programme) 2018-19. In addition, on my personal request, Minister for Planning Ahsan Iqbal had provided funds for expansion of Karachi Expo Centre," Ismail said.
Funds for K4 water project
The minister said that the government has started issuing funds for the K4 water project in Karachi.
He said that it was agreed during tenure of the previous government that centre will pay one-third of the cost of K4 water project, adding that however, no money was ever paid and the project never took off the ground.
Ismail said that it was the Pakistan Muslim League-Nawaz (PML-N) government that started giving funds for the K4 and former prime minister Nawaz Sharif also agreed to bear 45 per cent of the total cost.
Desalination plant to resolve water issue
He said the federal government would execute a new scheme of sea water desalination plant for the citizens of Karachi, adding that the plant would be built by private sector and produce 50 million gallons of water per day.
"Karachi is suffering from a severe water crisis .... In sha Allah, it will be my honour to play a vital role in solving the water problem for my city," the minister said.
"For this purpose, the federal government will bridge the viability gap in partnership with private sector."
Offer to purchase buses for Green Line project
He further said the Lahore and Multan metros were built by provincial funds, however, the Green Line Rapid Transit System in Karachi is being funded by the federal government.
"In the current financial year, Rs16 billion have been spent on this project. The road and bridges are ready, but the provincial government has not yet been able to issue contract for procurement of buses," Ismail said.
"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." APP/AFP
