ISLAMABAD: The Central Development Working Party (CDWP) on Friday cleared 10 development projects worth Rs143 billion, including a Rs41bn initiative to revamp the Federal Board of Revenue (FBR), enabling the government to secure a $150 million loan from the World Bank despite a more than 225 per cent increase in project costs.

The CDWP meeting, presided over by Pla­n­­­ning Minister Ahsan Iqbal, also cleared Rs27bn expansion of laptop scheme in Pun­jab and Sindh’s Rs60bn worth of three major projects in the roads and education sectors.

The meeting requested the Executive Committee of the National Economic Council (Ecnec) to formally approve five projects worth Rs127.1bn and itself approved five other projects worth Rs15.9bn.

Under the current financial rules, the CDWP is empowered to approve projects costing up to Rs7.5bn, while the projects of higher estimated costs are approved by Ecnec on the recommendations of the CDWP after clearance on technical grounds.

The meeting approved........

© Dawn Business