Pak University of Engineering and Emerging Technologies

Aftab Ahmed

Islamabad: The Executive Committee of the National Economic Council (ECNEC) has approved in principle Pak University of Engineering and Emerging Technologies (PUEET) phase-1.

The Pak University of Engineering and Emerging Technologies is a knowledge initiative, PTI government has taken now to boost education of technologies.

Ministry of Planning, Development, and Special Initiatives briefed the forum about the case and informed that Central Development Working Party (CDWP) had considered the project in its meeting held on May 25, 2021.

It had recommended for consideration the project of the Pak University of Engineering and Emerging Technologies (PUEET) phase-1 for approval of the ECNEC at the rationalized cost of Rs 23.551 billion including Foreign exchange component (FEC) Rs 9.900 billion. CDWP had directed sponsors for their compliances.

Ministry of Planning, Development, and Special Initiatives submitted the project of Pak University of Engineering and Emerging Technologies for consideration and approval of the ECNEC at a rationalized cost of Rs 23.551 billion with FEC Rs 9.900 billion.

It also sought directions from the sponsors to comply with the requirements and submit compliance to CDWP.

Ecnec considered Special Initiatives titled “Pak University of Engineering & Emerging technologies （PUEET) Phase-1(Knowledge Economy Initiative)” and approved, in principle, the proposals with the direction to Ministry of Planning, Development and Special Initiatives to further rationalize the cost of the project and submit the same to the ECNEC within three months.

EMERGING ENGINEERING TECHNOLOGIES (UAEET), SIALKOT, PUNJAB

Ministry of Planning, Development, and Special Initiatives briefed the forum about the case informed CDWP had considered the project in its meeting held on May 24, 2021.

Moreover, it recommended the project of Emerging Engineering Technologies Sialkot for consideration and approval of the ECNEC subject to the condition that ADP Punjab would fund the project. Punjab had agreed/confirmed in the CDWP meeting.

Accordingly, the Ministry of Planning, Development and Special Initiatives submitted the project to the ECNEC for approval at a total cost of Rs 16,648470 million with FEC Rs 6,075.120 million with condition that the government of Punjab would entirely fund the project. It will also bear the O&M costs.

DECISION

Meanwhile, the Executive Committee of the National Economic Council (ECNEC) considered the summary submitted by the Ministry of Planning, Development and Special Initiatives titled “Establishment of University of Applied Engineering and Emerging Technologies (UAEET), Sialkot, Punjab” and approved the proposal.