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Karachi: Kamal lauds Centre for approving mass transit system (MTS) - LahoreEstate - 08-11-2009 07:36 AM
KARACHI: City Nazim Mustafa Kamal has welcomed the federal government's step to approve a mass transit system (MTS) for the city.
Kamal said the federal government has approved an MTS under which Rs 2.5 billion have not only been allocated but these funds have also been released to subsidise 1,600 CNG buses for the city.
The city nazim said this while addressing an urgently called press conference at the City Nazim's Secretariat on Monday.
Kamal lauded the role of the president, the prime minister and the Sindh chief minister for making the project viable.
He also thanked the Sindh local government minister and the finance minister for playing role in this regard.
The meeting approved all the details of CNG bus project for the city and has decided that the State Bank of Pakistan (SBP) would issue a subsidy of Rs 300 million for the project immediately to the stakeholders and the finance department would transfer the funds to SBP.
The allocated funds worth Rs 2.5 billion would be served for subsidising the buses at a rate of 10 percent. The SBP would release a 10 percent subsidy immediately after the stakeholders would submit the application while prior to submission of applications, the CDGK would approve these only to those stakeholders that would be eligible for plying a fleet of 25 buses and for this reason, no restrictions would be entertained, said Kamal.
Kamal added that a total investment of Rs 3 billion would be made in the CNG bus project in current year. The ministry of petroleum and Sui Southern Gas Company has already approved quota for running of CNG buses in the city while the CDGK has also approved the modus operandi for the project under which only those companies will be allowed who would run at least 25 buses.
Kamal added that a total of 4,500 CNG buses would be brought to roads in the city with an investment of Rs 2.5 billion while 4,000 buses would also ply in other cities after fulfilling the PC-1 requirements.
http://www.dailytimes.com.pk/default.asp?page=2009\08\11\story_11-8-2009_pg12_6