ISLAMABAD: Pakistan has approved and advanced development projects worth more than Rs435.7 billion ($1.55 billion), including major investments in electricity infrastructure, urban services, irrigation and land digitisation, as the government seeks to modernise public infrastructure and support economic growth.
The projects form part of the government’s “URAAN Pakistan” initiative, a national economic transformation plan that aims to raise exports, attract investment and accelerate growth through reforms in energy, industry, technology and agriculture.
The largest projects include power-sector upgrades, a Rs60.5 billion wastewater treatment plant for Lahore, a Rs43 billion land digitisation project in Punjab and a revised Rs64 billion irrigation scheme designed to improve water availability for agriculture.
“Energy security remains one of the central pillars of the government’s ‘URAAN Pakistan’ initiative, which seeks to accelerate economic growth, industrial competitiveness and sustainable development,” Planning Minister Ahsan Iqbal said.
The projects were reviewed by the Central Development Working Party, which approved six projects worth Rs16.9 billion and recommended six larger projects worth Rs418.8 billion to the Executive Committee of the National Economic Council for final approval.
Among the largest energy projects was a Rs195 billion reactive power compensation initiative aimed at improving the stability of Pakistan’s electricity transmission network.
Pakistan is pursuing a reform agenda aimed at boosting investment and addressing long-standing infrastructure bottlenecks that have constrained economic activity, while maintaining fiscal discipline under an IMF-supported economic stabilisation programme.
