The Executive Committee of National Economic Council (ECNEC) has sanctioned Rs25.5 billion for the mega water project of the Karachi Water Supply Board, K-IV.
Finance Minister Abdul Hafeez Sheikh chaired the meeting in which several other projects were also approved.
Through the completion of the project, Karachi would be able to get extra 260 million gallons of water per day. While, the first phase of the project, K-IV, is expected to be finalized within 4 years.
Due to the flood occurred during the last monsoon in Karachi, the committee also approved Rs 16.8 billion for a waste management project.
Moreover, Rs 37.91 billion have been approved by ECNEC to construct a cable from Khunjerab to Karachi as part of CPEC and lay the cable from Gwadar to Ratodero.
The ECNEC also approved and provision of advanced skills development through international scholarship Phase-1 for Master and PhD programs at a cost of 13.361 billion rupees. The project is part of a Prime Minister Knowledge Economy Task Force Initiative, enabling the youth to access higher education opportunities abroad.