ECNEC approves Punjab Human Capital Investment Project

LAHORE: Executive Committee of the National Economic Council (ECNEC) Thursday approved the Punjab Human Capital Investment Project (PHCIP).

The online meeting was attended by Secretary P&D Board, Imran Sikandar Baloch, Dr Shahinshah Faisal Azim, Chief Executive Officer, Punjab Social Protection Authority and Dr Lubna Nazir, Project Director HCIP.

The main objective of PHCIP is to increase the access to quality health services, economic and social inclusion of the poor and vulnerable households in select districts in Punjab through life-cycle approach. This 5-year project will bring qualitative and quantitative improvements in Punjab’s Human Development Index (HDI) and related indicators. The project aims to increase the access to quality health services, economic and social inclusion of vulnerable groups.

The total cost of the project is US$ 330 million that includes IBRD/IDA US $200 million/ ¥ 21.428 billion /Rs 32.00 billion and in-kind contribution of US $ 130 million as counterpart funding by the Punjab government which is merely a notional reflection of 5 years’ budgetary allocation in the relevant project sectors.

The project will be rolled out in phased manner in 11 top districts selected on the basis of multiple dimensions for poverty (education, health, living conditions, etc).