Govt releases Rs81m for textile industry projects

The Ministry of Planning Development and Reforms has so far given the authorization to release Rs81.132 million for various Textile Industry sector development projects under its Public Sector Development Program (PSDP) for the financial year 2019-20 as against the total allocation of Rs 202.828 million.

According to the data PSDP releases , issued by the Planning Commission of Pakistan, the authorities concerned had given the authorization of release of Rs2.828 million for the overall developmental projects of Faisalabad Garments City Training Centre, Faisalabad under its PSDP 2019-20 as against the total allocation of Rs2.828 million.

The authorities concerned had also given the authorization of release Rs78.304 million for 1000 Industrial Stitching Units (All over Pakistan), as against the total allocation of Rs100 million in order to water conservation.

The federal government has so far released Rs297.278 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs701 billion.

The Implementation Agreement (IA) of 1,320 mw Thar coal-based power generation project has been signed at Private Power and Infrastructure Board (PPIB) for materializing the financing the project having cumulative cost of $ 1,912.2 million.

Minister for Energy Omar Ayub Khan, who is also the Chairman of PPIB has appreciated PPIB's efforts to expedite processing of indigenous fuel.

Shah Jahan Mirza, Managing Director PPIB and Meng Donghai, Chief Executive Officer of M/s Thar Coal Block-I Power Generation Company Limited (TCB-I) signed the documents, said a press release.

The 1,320 mw Shanghai Electric Thar Block-1 Coal Project was being developed under the umbrella of ChinaPakistan Economic Corridor (CPEC) through Project Company TCB-I while M/s Shanghai Electric Group Company was the main sponsor of this project.

The project would utilize Thar Coal supplied by Sino Sindh Resources Limited which was executing coal mining operations for coal extraction in the Thar coalfield Block-I. Letter of Support has already been issued to the project by PPIB while Financial Closing was expected to be achieved very soon. It is anticipated that Shanghai Electric Thar Block-1 Coal Project will start generating electricity in March 2021.

Latest advancements by this project would pave the way for timely commissioning of the Project. The project would be connected with the 660 +kV Matiari-Lahore HVDC Transmission Line Project for power transmission. This transmission line project was also being implemented by PPIB under CPEC which was currently under construction and targeted to be operational by March 2021.

The addition of 1,320 MW indigenous, affordable and reliable electricity would energise the national grid and help savings foreign exchange of around Rs 75 billion annually on account of Fuel Cost, besides generating economic activities and employment opportunities for the people of Thar.

This will boost the confidence of the investors, who were interested in Thar coal mining and power generation.