SKARDU: The Gilgit-Baltistan Council on Wednesday approved 2.4 billion rupees budget for the next fiscal year with development expenditures estimated at 1.45 billion rupees.
Prime Minister Shahid Khaqan Abbasi chaired the council’s meeting here today where the budget was approved.
Speaking on the occasion, he said that the federal government will continue to extend cooperation for equal development of all the areas in the country.
Highlighting unique geographic location of Gilgit-Baltistan, he said the area can greatly benefit from China Pakistan Economic Corridor (CPEC) project.
PM Abbasi said the PML-N government started work on Diamer Bhasha Dam, adding that development of the country was its priority.
He said it was a matter of great satisfaction that the democratic process was moving forward in Gilgit-Baltistan.
Chairman National Highway Authority Shahid Ashraf Tarar gave a detailed briefing to the premier on the ongoing infrastructure projects including Jaglot-Skardu road in Gilgit Baltistan.
He said that 164 kilometers long Jaglot-Skardu road will be constructed at a cost of thirty one billion rupees in three years time.
The chairman said that the FWO was carrying out construction work on the road on the built, operate and transfer basis.
Later, the prime minister inaugurated Baltistan University in Skardu.
On the occasion, he was briefed that Karakoram University Campus has been upgraded to Baltistan University.
The Gilgit-Baltistan government has allocated 1500 kanals of land for the university which would be set up at a cost of 1.77 billion rupees. A medical college would also be opened under the University.