k-P govt denies extra loans taken to finish Peshawar BRT - The News Observers - Business & World News

k-P govt denies extra loans taken to finish Peshawar BRT

ADB finds 'deadly flaws' in Peshawar BRT project

PESHAWAR: The event authority of the provincial capital on Sunday denied that any additional loans had been taken to finish work on the mass transit mission within the metropolis.

In a press release issued by a media official of the Peshawar Growth Authority (PDA) on Sunday, confirmed that administrative approval for an additional Rs2.7 to Rs3 billion has been granted to finish the Bus Speedy Transit mission (BRT) however clarified that the approval doesn’t imply an escalation in the price of the mission.

The official additional clarified that the reported enhance is the results of the hike within the change price to the USA greenback towards the rupee which necessitated a revision in the price of the scheme. The US greenback was at Rs106 [when the project was approved] and to the present change price was RS156,” the official defined, including that the price of the greenback had elevated by Rs50.

The official additional argued that the un-utilized $60 million for the programme translate into financial savings of about Rs3.6 billion.

“Since we can not make the most of any quantity over and above the accepted quantity of Rs66 billion, subsequently the Planning and Growth Division was knowledgeable that the scheme will have to be revised to allow the executing company to make the most of the cash which has been saved,” the official stated.

There’ll neither be any extra mortgage required nor shall the provincial exchequer bear any extra burden on this regard, the official clarified.

“It’s clear that there isn’t a enhance in the price of the BRT mission quite it’s merely a proposal for the revision of the scheme to regularise the matter.”

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