INP-WealthPk

Rs. 76.949 Billion Released for NHA Projects in First Seven Months Of FY22

March 07, 2022

By Jawad Ahmed ISLAMABAD, March 07 (INP-WealthPK): The federal government of Pakistan authorized Rs76.949 billion for the National Highway Authority (NHA) projects under the Public Sector Development Program (PSDP) 2021-2022 during the first seven months of the current fiscal year, reported INP-WealthPk. According to a report, local resources generated Rs61.997 billion of the total value of Rs76.949 billion, while foreign funds contributed Rs14.952 billion. The amount of foreign funds is estimated for the first six months of FY21-22 (July-December). According to a report obtained by WealthPK from the Economic Affairs Division (EAD), the NHA got Rs4.677 billion from China and the Asian Development Bank (ADB) in the first month of 2022. Foreign funds of Rs19.629 billion have been sanctioned to NHA in the last seven months (July-January). According to the report, China provided Rs4.646 billion for the Multan-Sukkur section in January, while the ADB provided Rs31 million for construction of an additional carriageway on the N55 CAREC corridor between Shikarpur and Rajanpur. A total of Rs113.750 billion had been allocated in the PSDP 2021-22 of the present budget out of which Rs99.375 billion was allocated for ongoing schemes whereas Rs14.375 billion was earmarked for new schemes of the NHA. Out of the overall budget of the NHA for FY21-22, the federal government estimates that Rs22.192 billion would come from foreign assistance, with Rs91.558 billion financed through internal sources. The EAD report seen by WealthPK disclosed that the NHA acquired foreign loans worth Rs9.629 billion in the first seven months of FY21-22. Murad Saeed, Federal Minister of Communication, has said on several occasions that the present administration is focused on accelerating the rehabilitation and construction of a new road infrastructure in the country. “The present government is currently constructing 3,732 km of roads in Balochistan and 7,889 km of roads across the country. Work is underway on 22 new projects, four projects will be launched this month and eight projects in next two months, a few of which are at feasibility or design stage,” said the minister in a tweet. During Khuli Kachahris (open courts) held at the authority office, Chairman NHA Muhammad Khurram Agha said that the NHA was working hard to complete reconstruction and repair work of national highways and motorways across the country in a timely manner as per international standards. The projects can be considered as promoting economic growth and poverty reduction in the region, resulting in significant social and economic development. The projects’ social benefits will be triggered by increased access to various services, such as easy access to markets, health facilities, schools, and workplaces, which will raise people' income and, as a result, improve their standards of living. The prompt allocation of funds for road construction schemes would not only improve the living standards and trade links across the country, but will also save the government from losses incurred as a result of price rise caused by delays in project completion.