ISLAMABAD:
The National Assembly’s Standing Committee on Economic Affairs on Wednesday proposed that the Karachi Port Trust (KPT) either complete the Lyari Elevated Expressway project on its own or execute it through a public-private partnership (PPP).
The committee, which met under the chairmanship of Mirza Ikhtiar Baig, held a detailed discussion on the Lyari Elevated Expressway project and stressed the need for its early completion to reduce traffic jams caused by movement of containers in Karachi.
During the meeting, National Highway Authority (NHA) officials informed the committee that a South Korean company had estimated the cost of the project at 164 billion rupees, while the NHA’s own estimate was 88 billion rupees.
Officials said the Korean company also proposed building the highway using a steel bridge.
KPT officials informed the committee that the Korean side has now estimated the total cost of the project at 300 billion rupees, while the NHA’s latest estimate was around 120 billion rupees.
Committee Chairman Mirza Ikhtiar Baig described the Lyari Elevated Expressway as an extremely important project for Karachi, noting that container traffic plying in the city at night was creating serious problems for residents.
He stressed that the project should be completed as soon as possible.
The Economic Affairs Secretary informed the committee that the loan for the project was initially to be obtained by the KPT.
He suggested that if the KPT was unable to execute the project independently, it should be carried out either through a PPP or under the Public Sector Development Program.
