News Paper: Business Recorder
ISLAMABAD (July 20 2010): Ministry of Labour and Manpower would launch 6-Lane Karachi-Hyderabad Motorway (M-9) a 2-year (2011-12) project costing Rs 16.845 billion for which the resources of Employees Old-Age Benefits Institution (EOBI) would be utilised.
After a meeting of National Assembly Standing Committee on Labour and Manpower, Minister Syed Khurshid Shah of PPP told Business Recorder that the Ministry is ready to launch Karachi-Hyderabad Motorway (134.5KM) M-9 project with 25 percent share of National Highway Authority (NHA) to be completed within two years (2011-12) till December 26, 2012.
The Minister said that a total of Rs 65 billion of the EOBI are placed in National Bank. "The investment will benefit employees of EOBI," he said. He said, "EOBI considered the possibility of investing in the Karachi-Hyderabad (M-9) motorway Project for conversion of the existing four lane highway into six lane international standard motorway, as the project had already been approved by the Executive Committee of National Economic Council."
He said that the EOBI would float tenders in August-October 2010 and construction would be started in January 2011. He said that the concession period of this project is 25-year and it would be transferred from M-9 to NHA in January 1, 2036. Khurshid Shah said that a total of 4.2 million EOBI registered members of which 0.4 million are pensioners. He said that figures of pension holders would reach 0.9 million in next 10-year. Minister said that similar projects would be started in Punjab. "The Ministry would also invest on the project of wind energy. For this purpose, we have engaged five consultants of UK, Korea, Australia, US and China," he said.
-www.brecorder.com
After a meeting of National Assembly Standing Committee on Labour and Manpower, Minister Syed Khurshid Shah of PPP told Business Recorder that the Ministry is ready to launch Karachi-Hyderabad Motorway (134.5KM) M-9 project with 25 percent share of National Highway Authority (NHA) to be completed within two years (2011-12) till December 26, 2012.
The Minister said that a total of Rs 65 billion of the EOBI are placed in National Bank. "The investment will benefit employees of EOBI," he said. He said, "EOBI considered the possibility of investing in the Karachi-Hyderabad (M-9) motorway Project for conversion of the existing four lane highway into six lane international standard motorway, as the project had already been approved by the Executive Committee of National Economic Council."
He said that the EOBI would float tenders in August-October 2010 and construction would be started in January 2011. He said that the concession period of this project is 25-year and it would be transferred from M-9 to NHA in January 1, 2036. Khurshid Shah said that a total of 4.2 million EOBI registered members of which 0.4 million are pensioners. He said that figures of pension holders would reach 0.9 million in next 10-year. Minister said that similar projects would be started in Punjab. "The Ministry would also invest on the project of wind energy. For this purpose, we have engaged five consultants of UK, Korea, Australia, US and China," he said.
-www.brecorder.com
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