Peshawar: The Peshawar Development Authority (PDA) nullified the claim that the cost for Bus Rapid Transit (BRT) had increased.
In a statement issued by PDA, the executing body of BRT, the authority clarified that news were circulated that the excess of Rs2.7 to Rs3 billion has been added to the total cost of the project, which is wrong. The excess amount was rather approved in view of dollar-rupee parity. The dollar rate was Rs106 when the project was kicked off, while it is now Rs156, which requires the allocated budget to be increased so that rupee devaluation could be compensated.
“The increase of Rs50 per dollar for the unutilised $60 million at this stage results in a saving of about Rs3.6 billion. Since we can’t utilise any amount over and above without administrative approval,” PDA explained in the statement.
Therefore, the Planning and Development Department was intimated that the scheme would need necessary revisions to enable the executing agency to accomplish the task without further delays.
“There will neither be any additional loan required nor shall the provincial exchequer bear any additional burden in this regard,” PDA spokesman Muhammad Umair claimed.
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