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PM SIGNS BHASHA DAM BUDGET

December 6, 2016

PM approves Diamer-Bhasha Dam’s financing plan

 

ISLAMABAD: Prime Minister Nawaz Sharif Monday approved in principle the financing plan for the Diamer-Bhasha dam and ordered the water and power secretary to start work on the dam before the year-end.

Ministry of Water and Power Secretary Mohammad Younus Dagha presented the dam’s financial proposal to the prime minister today, Radio-Pakistan reported. The prime minister instructed Younus Dagha and the planning and finance secretaries to expedite completion of financial process and begin the physical process before the end of the next year. This financial plan, made on a self-reliance basis, proposes that construction of the dam will receive a portion of the required funding from allocations made by the Public Sector Development Programme (PSDP) and from resources generated by the Water and Power Development Authority (WAPDA).

The Ministry of Water and Power either through WAPDA or leasing its existing projects will arrange rest of the financing for the dam on a commercial basis. The prime minister also acknowledged the efforts of the ministry and Gilgit-Baltistan administration for land acquisition for the dam. The Council of Common Interests approved construction of dam in 2009. Once completed, the dam will generate 4,500 MW of electricity. Separately, the prime minister chaired a meeting of provincial party leaders at the Prime Minister’s House on Monday

 

 

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