DLP Report
PESHAWAR
The Khyber Pakhtunkhwa government has decided in principle to extend a loan to the federal government to ensure the timely completion of the Peshawar Northern Bypass project.
The decision was taken in an important meeting held here on Tuesday with Advisor to the Chief Minister on Finance Muzzammil Aslam in the chair, said a handout
The meeting was attended by Secretary Planning & Development Adeel Shah, Commissioner Peshawar Riaz Mehsud, Deputy Commissioner Peshawar Sanaullah Khan, Head of the KP Debt Management Unit Abdul Qayyum, Member (North) National Highway Authority, and officials involved in the Northern Bypass project.
According to the statement, the representatives from the Prime Minister’s Inspection Team and the Ministry of Communications also joined via Zoom.
Advisor Aslam emphasized that the Northern Bypass was a federal project with the potential to be a “game changer” for Peshawar and the wider KP region.
During the meeting, officials of the National Highway Authority were directed to divide the project into four packages worth Rs 3.9 billion. Funds will be released immediately upon the completion of each package, backed by a bank guarantee.
It was also proposed that a formal agreement be signed between the KP Finance Department, Planning & Development Department, the Prime Minister’s Office, and the Ministry of Communications.
The agreement will outline the mechanism for bridge financing and bank guarantees provided by the provincial government, as well as the procedure for federal reimbursement to KP.
