Latest news with #Rs40b
Express Tribune
13-05-2025
- Business
- Express Tribune
Interchange redesign raises Ring Road cost
With 50% of the Rawalpindi Ring Road project completed, authorities have decided to redesign the Thalian Interchange into a broad-based structure to accommodate higher traffic volumes. This change comes after consultations with the National Highway Authority (NHA), as the interchange falls within its jurisdiction. As a result, the project's overall cost is now expected to escalate, with the contractor also demanding increased compensation due to construction cost escalations. Originally, the revised PC-1 for the project was approved at Rs33 billion by ECNEC, reduced from an earlier proposed Rs39b. However, due to the redesign of the Thalian Interchange, increased land acquisition, and rising construction costs, the budget is now projected to rise againpotentially reaching Rs39 to Rs40b. The contractor argues that the current rates date back to 2021, while costs in 2025 have significantly increased. The Ring Road, stretching 38.3 kilometers from GT Road Rawat (Banth Mor) to Thalian Motorway Interchange, is progressing rapidly. Under the execution of the Rawalpindi Development Authority (RDA)'s Project Management Unit (PMU), and contracted to the Frontier Works Organization (FWO), the project includes five interchanges (Banth, Chak Beli Khan, Adiala Road, Chakri Road, and Thalian), two river bridges, seven nullah bridges, one railway bridge, 11 overpasses, 10 subways, and 53 culverts. In light of the redesign at Thalian, the RDA has been assigned to initiate Section 4 for acquiring additional land. The new interchange will not only handle current traffic more efficiently but also serve future expansion plans, particularly Phase 2 of the Ring Road. Chief Minister Maryam Nawaz has set a deadline of December 2025 for the project's completion. Meanwhile, the proposal to establish economic zones along both sides of the Ring Road has yet to gain approval. The Rawalpindi and Islamabad Chambers of Commerce and Industry (CCIs), along with other business associations, continue to push for this initiative, considering it a potential game changer for economic development in the region.
Business Recorder
30-04-2025
- Business
- Business Recorder
CM Punjab Maryam Nawaz relaunches laptop scheme after eight years
Chief Minister Punjab Maryam Nawaz Sharif on Wednesday relaunched the province's flagship laptop distribution scheme after an eight-year gap, announcing the first-ever distribution of 13th-generation Core i7 laptops to students. The revival of the scheme marks a major initiative under the new provincial government, with the first phase officially inaugurated by CM Maryam Nawaz at the historic University of Engineering and Technology (UET), Lahore, according to a statement issued from the Chief Minister's office. Punjab govt launches Ration Card Program worth Rs40b 5,000 laptops for students from other provinces The statement added that in line with CM Maryam's directive, the laptop scheme has been extended beyond Punjab to include students from other provinces and regions across the country. It stated that a total of 5,000 laptops will be distributed to students from Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashmir, and Gilgit-Baltistan. 'Among these, Khyber Pakhtunkhwa will receive the highest share with 3,136 laptops, followed by Balochistan with 938, Azad Jammu & Kashmir with 517, and Gilgit-Baltistan with 410 laptops,' the statemtn said, adding that an online portal has been launched to facilitate applications from students in these regions to streamline the process. 'Hunarmand Scholarship Phase-II' launched In addition to the laptop scheme, the chief minister also announced the launch of Phase II of the 'Hunarmand Scholarship' program. Under this phase, 20,000 scholarships will be awarded to deserving students enrolled from the third to the eighth semester and those pursuing degrees lasting two to five years, the statement said. 'This initiative is aimed at promoting merit-based support for talented youth and increasing access to digital and educational resources across Pakistan,' it added.
