ameer219
FULL MEMBER
- Joined
- Jan 30, 2010
- Messages
- 977
- Reaction score
- 3
- Country
- Location
Contract to widen Kashmir Highway signed
ISLAMABAD (September 06 2010): The Capital Development Authority Sunday awarded a contract to widen northern carriageway of Kashmir Highway costing almost Rs 1.85 billion rupees as the matter of first phase is yet subjudice with the court.
According to a senior CDA official, the contract has been signed with the winning bidders, a consortium of three firms, including KK, Chaudhry Latif and Arif and Co and was confident to say that the court verdict on the subjudice matter of first phase would have impact on the contract.
Earlier, the Authority had signed contract for southern carriageway with Habib Rafiq Group that was challenged by Muhammad Ayub Brothers taking the plea that the firm had not provided a bank guarantee against the contract agreement with civic body. However, he said the CDA may face difficulties regarding release of funds by the federal government as the project will be jointly executed both by CDA and the federal government under Public Sector Development Programme.
Under PSDP, an allocation of Rs 241.101 million have been made in CDA's annual budget for fiscal 2010-11 but the release of funds is yet uncertain particularly after the federal government has curtailed the PSDPs in wake of devastation caused by floods. Under the project, additional two lanes would be added to Kashmir Highway upgrading the road to four-lane from Peshawar Mor to Golra Mor.
Copyright Associated Press of Pakistan, 2010
Business Recorder [Pakistan's First Financial Daily]
ISLAMABAD (September 06 2010): The Capital Development Authority Sunday awarded a contract to widen northern carriageway of Kashmir Highway costing almost Rs 1.85 billion rupees as the matter of first phase is yet subjudice with the court.
According to a senior CDA official, the contract has been signed with the winning bidders, a consortium of three firms, including KK, Chaudhry Latif and Arif and Co and was confident to say that the court verdict on the subjudice matter of first phase would have impact on the contract.
Earlier, the Authority had signed contract for southern carriageway with Habib Rafiq Group that was challenged by Muhammad Ayub Brothers taking the plea that the firm had not provided a bank guarantee against the contract agreement with civic body. However, he said the CDA may face difficulties regarding release of funds by the federal government as the project will be jointly executed both by CDA and the federal government under Public Sector Development Programme.
Under PSDP, an allocation of Rs 241.101 million have been made in CDA's annual budget for fiscal 2010-11 but the release of funds is yet uncertain particularly after the federal government has curtailed the PSDPs in wake of devastation caused by floods. Under the project, additional two lanes would be added to Kashmir Highway upgrading the road to four-lane from Peshawar Mor to Golra Mor.
Copyright Associated Press of Pakistan, 2010
Business Recorder [Pakistan's First Financial Daily]
