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CDWP approves seven projects worth Rs116bn, including tax and olive initiatives

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Pakistan News Desk and Nadeem Abdulsamad
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At a glance

  • CDWP has approved seven development projects worth nearly Rs 116 billion.
  • This includes a conditional $200 million loan for digitalising tax administration (TADRA).
  • A Rs 5 billion project to promote commercial olive cultivation was also approved.

Story so far

The Central Development Working Party (CDWP), in a meeting chaired by Planning Minister Ahsan Iqbal, has approved seven development projects valued at nearly Rs 116 billion. A key project is a $200 million loan from the Asian Development Bank to digitalise Pakistan's tax system, though its approval is conditional on a review. Another approved project aims to promote commercial-scale olive cultivation with a budget of Rs 5 billion.

Latest development

In the same meeting, the Central Development Working Party (CDWP) approved a total of seven development projects worth Rs 115.89 billion. Among them was a revised Rs 5 billion project for the "Promotion of olive cultivation on commercial scale in Pakistan Phase-II".

Latest updates

In the same meeting on Friday, the Central Development Working Party (CDWP) provided further details on its approvals, confirming it cleared seven development projects worth a total of Rs 115.89 billion.

Of these, two major projects worth Rs 94.3 billion were recommended to the Executive Committee of the National Economic Council (ECNEC) for final approval, while five projects worth Rs 21.59 billion were approved directly by the CDWP.

Among the approved initiatives was a revised Food and Agriculture sector project titled “Promotion of olive cultivation on commercial scale in Pakistan Phase-II”, valued at Rs 5.01 billion. While reviewing the project, Planning Minister Ahsan Iqbal directed that the expertise of private-sector players should be incorporated, noting the potential of the Kallar Kahar-Islamabad and wider Potohar belt for olive cultivation.

Sources and updates

Business Recorder

CDWP approves seven projects worth Rs115.89bn

ISLAMABAD: The Central Development Working Party (CDWP) has approved seven development projects worth Rs115.891 billion, including two major projects worth Rs94.3 billion, which were recommended to the Executive Committee of the National Economic Cou

Usama MehboobUsama MehboobEditor
Categories: Business & Economy
Tags: , , ,

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