Article continues after this advertisementUnder the current financial powers, the CDWP can itself approve projects costing no more than Rs10bn while projects of higher estimated costs are approved by ECNEC once the CDWP clears them on technical grounds. The chief executive officer (CEO) of the P3A Ahmad Khan was directed to also present a Viability Gap Funding (VGF) financing. In case of taking the full obligations on the budget, the VGF requirement would have reduced to Rs75.9 billion. The project was initially expected to be completed at a cost of Rs165 billion, which has now increased to Rs191.5 billion. On Monday, the P3A presented the financial model approved by its board before the CDWP.

Source: Pakistan Today April 27, 2021 07:52 UTC