The Ministry of Industries, Production and Special Initiatives has established a Development Working Party (DWP) for State Engineering Corporation of Pakistan (SEC), authorising the corporation to sanction its own development schemes. Sources said the SEC has been authorised to sanction its development schemes with 100 per cent self-financing without any government guarantee and involving less than 25 per cent foreign exchange/assistance.
The DWP, according to the notification, headed by SEC chairman and comprised representatives from Planning & Development Division, Finance Division besides the ministry.
This forum has replaced the Central Development Working Party (CDWP) and all development projects of the government of Pakistan or foreign assistance beyond 1/4th of the project cost will now be approved by this DWP.
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