Saudi Arabia to fund RS 30 billion for AJK uplift schemes
Sardar Tanveer Ilyas, the chief minister of Azad Jammu and Kashmir (AJK), hailed the Saudi Arabian government on Saturday for providing the people of ADK with projects worth Rs 30 billion.
The Saudi Fund for Development (SFD) funded the projects for the construction of a water and transportation infrastructure. Additionally, the Central Development Working Group (CDWP) has previously approved them.
Speaking to a gathering of top journalists in his office, Prime Minister Ilyas said that SFD will cover 85% of the cost of the scenic Neelum Valley’s 22 MW Jagran-IV hydro projects and the $11.274 billion Shounthar hydro project.
The Prime Minister stated that the Public Sector Development Program of the federal government will pay the final 15% of the cost of each project (PSDP).
He added that “we are immensely indebted to both the Federal Government and KSA,” adding that “the loan agreements between the Economic Affairs Division and the SFD Board of Directors have also been inked,” which is wonderful news for the people of AJK.
The AJK administration is dedicated to transforming the area into a showcase for commerce and tourism.
According to Prime Minister Ilyas, these projects would boost the economy in the area and create thousands of new employment.
He added that the 600-meter-long tunnel at Chalpani on the Neelum Valley road, which is on the border of the Muzaffarabad district, and the 3.7-kilometer-long tunnel between Kamsar and Kahori will both contribute to facilitating smooth travel between Muzaffarabad and Neelum Valley.
The KSA has helped us, which is a magnificent example of charity, and we respect that from the bottom of our hearts, the Prime Minister stated, despite the fact that “the entire global economies have been jolted by COVID.”
The financial crisis is on the rise as a result of the world recession, and multibillion-dollar businesses are collapsing. “Our Saudi brethren have been assisting Pakistan with oil subsidies for development projects,” he continued, despite this.
These initiatives “sow the seeds of love between the people of Pakistan and SA,” according to Ilyas.
He reaffirmed that his administration works to make AJK a role model for the rest of the world and said that he did not take office in order to steal money from the AJK government or use it for personal needs.
Ilyas, the prime minister of the AJK, has declared that he will not accept a salary from the AJK government and that he supports himself by managing the kitchens at the PM Secretariat and PM House.
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