ISLAMABAD: The Federal Cabinet was informed on Tuesday that various energy sector projects being set up under the China-Pakistan Economic Corridor (CPEC) project would contribute over 17,000 MW of energy to the national grid on completion.
The Cabinet was also given a detailed presentation regarding CPEC, including various projects being undertaken in energy sector, infrastructure, industrial cooperation and development of Gwadar.
It was informed that the energy sector and infrastructure development constituted the major areas under the first phase of CPEC. Various energy sector projects being set up under the CPEC project would contribute over 17,000 MW of energy to the national grid on completion.
The meeting was informed that the CPEC would significantly help towards ensuring inclusive development, especially the socio-economic development of the less developed areas of the country.
It was informed that the CPEC project would help increasing GDP growth and would strengthen various sectors of the economy.
Annual report and audited financial statement of audit oversight board for the year, 2017 was presented before the Cabinet.
The Cabinet approved signing of seven memorandums of understanding (MoUs) with various countries aimed at enhancement of economic and strategic cooperation and carrying out a feasibility study of a project. It also approved Prevention of Smuggling of Migrant Ordinance, 2018.
The Cabinet assented to ceiling for allocation of Grants-in-Aid to Bar Councils and Bar Associations for 2017-18.
It also approved appointment of managing director, utility stores corporation. A proposal to grant additional charge of the post of chairman Port Qasim Authority Karachi to director general ports & shipping was also approved.