FY21 financial statements, ITTMS equipment: Umar approves two key agenda items

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives, Asad Umar has approved two agenda items, which include the adoption of audited financial statements for fiscal year 2020-2021 and ex-post facto sanctions for procurement of security and the Islamabad Capital Territory (ICT) equipment for Integrated Transit Trade Management System (ITTMS) Torkham and Chaman.

Umar chaired the meeting, which was attended by Quartermaster General, DG NLC, secretary Ministry of PD&SI, and other board members.

Director General, the National Logistics Cell (NLC) briefed the participants about the operational, administrative and financial matters of the organisation with special reference to the accomplished tasks and future development plans of the NLC.

The Board was apprised that while focusing on the core business of logistics as guided by the chairman and the board in year 2020-21, the NLC has requested net profit of Rs5-7 billion as compared to 700 million in year 2018-19.

The profit ratio has been 12 percent being the highest one in the last year.

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The board was further informed that an additional 150 vehicles have been booked enhancing the fleet size up to 900.

Moreover, 200 additional vehicles are planned in FY-2022-23 that would increase the fleet size to 1,100.

It was also updated that first commercial Transports Internationaux Routiers (TIR) moved to Turkey and Azerbaijan through Iran in October 2021.

In addition, a road freight terminal is also being developed at Landin (Karachi) comprising all facilities of transport operations and is likely to be completed by August 2022. The logistic management system has been digitalised and it will be integrated with the ERP.

During the meeting, the committee also reviewed the progress on construction of 7th Avenue Interchange, IJP Road, 10th Avenue, ITTMS Torkham, Chaman, CPEC Package 1(Rehmani Khail-Yarik), Nultar Road, 73-kilometre Gilgit-Shandur, Orangi Nullah, and BRTC Commission Corridor.

The minister directed to increase the NLC budget approval limit to fast-track the project execution.

The DG NLC further informed the meeting that the 47 percent work on ITTMS Torkham, 42.6 percent work on ITTMS (Chaman), 71 percent work on Naltar has been completed, while 100 percent work on the CPEC Package 1RehmaniKhail-Yarik has been completed.

It was further informed that the NLC has digitalised logistic management system and a state-of-the-art data center has been established to cater the needs for the next 10 years. The minister appreciated the performance of the NLC and its valuable contribution in the nation building efforts and timely completion of the projects and hoped that the NLC would continue to play its role in boosting economic activities in the country.

Copyright Business Recorder, 2022