ISLAMABAD - Central Development Working Party (CDWP) Thursday approved six development projects worth Rs27.741 billion including a key project to establish Central Asian Regional Economic Cooperation (CAREC) University at the cost of Rs.9.780 billion.

The Central Development Working Party also recommended one project to Economic Committee of the National Economic Council (ECNEC). The Foreign Exchange Component (FEC) of approved projects is Rs 2.248 billion.

Federal Minister for Planning, Development & Reforms Ahsan Iqbal chaired CDWP meeting. The meeting also accorded approval to concept clearance of two projects. While chairing the meeting, minister issued directives for cost rationalization of different projects as well as revising their financial models for utilisation of public money in a transparent way.

“Development budgets should be meant for development needs of the country rather than spending them on non-development expenditure”, the minister stressed.

CDWP approved “Provision of Coal Conveying System from PIBT to Railway Network at Port Qasim” at the cost of Rs.15.875 billion and recommended to ECNEC. The project envisages construction of coal conveying system for transportation of coal from PIBT coal terminal to railway siding and loading of coal onto railway wagons for onward transportation to the proposed coal fired power plants.

In education sector, CDWP approved establishment of Central Asian Regional Economic Cooperation (CAREC) at the cost of Rs.9.780 billion having FEC of Rs2 billion. Ahsan Iqbal said that this university should be developed as “university of 21st century” to compete with top international universities in the world. He directed for establishment of university in two phases so that its first phase would be completed by September 2017 to start academic activities. The meeting also formed a committee, headed by Minister for Planning & Development, to finalise the modalities for this university at fast track.

CDWP also approved “Enhancing IT Export through Industry Support Progamme” worth Rs.265.50 million. Ahsan Iqbal said that project should be aligned with Vision-2025 and elements of productivity, quality & innovation have to be ensured while conceiving from the idea and materializing into product as well as its execution.

The meeting approved Replacement of GSM network in AJ&K project at the cost of Rs.1450 million. It is designed to carry out existing CS & PS Core, billing SMSC and part of Access Network of GSM System in AJ&K. Meeting also approved software & training components worth Rs.91 million of “Further Strengthening of PNRA Capability for Design Assessment and Analysis to Ensure Safety of Nuclear Power Plants. CDWP also gave approval to the concept clearance to establishment of Pak-Korea Hi-Tech Agriculture Innovation Center/Technology Park (PhaseI) at University of Agriculture, Faisalabad and Agriculture & Socio-Economic Development in Potohar Region Punjab.