The National Assembly Standing Committee on Economic Affairs on Wednesday proposed that the Karachi Port Trust (KPT) either complete the Lyari Elevated Expressway project on its own or execute it under a public-private partnership (PPP)

The committee, which met under the chairmanship of Mirza Ikhtiar Baig, held a detailed discussion on the Lyari Elevated Expressway project and stressed the need for its early completion to ease traffic congestion caused by container movement in Karachi.

During the meeting, National Highway Authority (NHA) officials briefed the committee that a South Korean company had estimated the project’s cost at Rs164 billion, while the NHA’s own estimate stood at Rs88 billion.

The officials said the Korean firm had also proposed constructing the expressway using a steel bridge.

KPT officials informed the committee that the Korean side had now estimated the total cost of the project at Rs300 billion, while the NHA’s latest estimate was approximately Rs120 billion.

Committee Chairman Mirza Ikhtiar Baig described the Lyari Elevated Expressway as an extremely important project for Karachi, noting that container traffic moving through the city at night created serious problems for residents.

He stressed that the project should be completed as early as possible.

The secretary for Economic Affairs informed the committee that the loan for the project was originally to be obtained by the KPT.

He suggested that if the KPT was unable to execute the project independently, it should be completed either through a PPP or under the Public Sector Development Programme.