ISLAMABAD          -     The Federal Government on Monday committed to provide funding of Rs 736 billion for five projects under the Karachi Transformation Plan announced by the Prime Minister last week. 

The commitment was finalised during a meeting held here chaired by Minister for Planning, Development and Special Initiatives Asad Umar. The meeting discussed in detail the implementation of federal component of Karachi Transformation Plan (KTP). 

The meeting was attended by secretaries and senior officers of Ministries of Planning, Railways and Water Resources, besides National Disaster Management Authority (NDMA).

The meeting was informed that out of the committed financing, the government would request the Supreme Court of Pakistan to allow use of part of the Bahria Town Settlement Fund (upto Rs125 billion) expected to be available during the three years period of KTP. 

Hence the funding estimated to be arranged by the federal government is Rs 611 billion. The balance Rs 375 billion (out of the total package of over Rs 1100 billion) is shown as responsibility of the provincial government. 

According to details, the federal government would provide funding of Rs 254 billion for rehabilitation of River, Nullahs and Storm Water Drains and resettlement of affected people, Rs 46 billion for Greater Karachi Water Supply Project (K-IV), Rs 300 billion for Karachi Circular Railway (KCR), and Rs 131 billion for Railway Freight Corridor, Rs 5 billion for Green line BRT. 

Asad Umar asked the relevant officials to prepare time bound action plans for execution of their respective projects and to identify whether any approvals / NOCs were required from the provincial government.