At a time when various road projects across the country are facing delays, Prime Minister Manmohan Singh has constituted a committee to recommend ways to expedite them as well as make them attractive for banks and private investors amid the global recession.
The decision was taken at a meeting yesterday chaired by the Prime Minister to review the road transport and highways ministry’s ambitious plan of developing 35,000 km of national highways in the next five years.
The committee, to be headed by Planning Commission Member BK Chaturvedi, will submit its report in two weeks. Besides,l it will comprise Finance Secretary Ashok Chawla and Road Transport Secretary Brahm Dutt, the Ministry of Road Transport and Highways said in a statement issued today.
The committee will find measures for expediting award of projects, financing road projects, restructuring of four- or six-laning projects, and ensuring inclusive and equitable growth. This apart, it will focus on making projects attractive for banks and private investors, especially in the wake of the global recession.
Among other issues, the committee will look after the review of the termination clause and conflict of interest clause, and introduction of exit clause in the model concession agreement.
Also on the committee’s agenda will be making dispute settlement process in the National Highways Authority of India faster, more effective and fast-track mechanism for resolution of inter-ministerial issues not requiring the Cabinet Committee on Infrastructure’s approval, among others.
