Executive Committee of National Economic Council has approved a project of Special Development Initiatives for backward districts of the country.

The approval was given at a meeting of the Committee, chaired by Finance Minister Ishaq Dar in Islamabad.

The project, worth 40 billion rupees, will be executed on 50:50 basis by federal and provincial governments.

The Special Development Initiatives project aims to bring noticeable change in social and economic fabric of the people of backward and poor districts.

The Committee also approved PC-1 of Post-Flood 2022 Reconstruction Plan: Resilience, Enhancement and Livelihood Diversification in Balochistan project, at a total cost of 88 billion rupees, which will be funded by the World Bank.

Several other projects in different sectors were granted approval.