Abstract
This paper evaluates the economic benefits of the Water Management Research Project of the University of Agriculture, Faisalabad run over an area of ten thousand hectares in ten villages of Shahkot area of district Sheikhupura from 1978-79 to 1991-92. The results of the study show that implementation of this project brought about significant improvement in the plight of the project farmers in terms of enhanced crop productivity and better farm incomes. The application of the discounted measures of project worth also confirmed that public sector investment in this long term project has been a highly economical proposition with BCR at 1.084, NPW at Rs. 861(000) and m.R at 23.56% at the assumed opportunity cost of capital of 13.5%. Key words: economic benefits, water management
