KARACHI - After getting approval of President Asif Ali Zardari, during his Karachi visit, the federal government-funded Shaheed Benazir Bhutto CNG Bus Project for Karachi city has been initiated. As per details, it is being planned that 500 CNG buses through public-private partnership would be purchased for the metropolis in December this year, sources revealed to The Nation on Monday. In order to streamline this programme, a meeting of commercial banks and all concerned institutions of the project, including the representatives of the federal and provincial governments, CDGK officials, suppliers, manufacturers and operators was held under the auspices of the State Bank of Pakistan. SBP director banking policy regulations presided over the meeting in which important decisions were taken to implement this project through CDGK, sources added. A sum of Rs 1,000 million has already been allocated in PSDP 2009-10 for this purpose. It is also learnt that federal government will provide subsidy RS 700,000/ per bus approved by the Planning Commission. Pakistan in coordination with ENERCON and KMTC and CDGK will sort out to streamline the loaning program. Sources further said that with the release of funds from ENERCON during the current financial year, the project would be launched. It is noteworthy to mention here that the ministry of finance has released these funds.