Thursday, 14 June 2012 14:51
KARACHI: Denying that M/s Engro Group has not refrained from its joint venture funding with government of Sindh for coal mining in Thar, Chief Minister Syed Qaim Ali Shah disclosed on Thursday that the World Bank however withdrew its earlier commitment of providing IDA Credit of SDR 20.2 million equivalent to US$ 30 million on May 30, 2012.
In his written reply to the question of Ms. Nusrat Sehar Abbasi of PML-F during question in budget session of Sindh assembly, he said in November 2009, the WB had informed that it was not in position to continue with the Thar Coal and Power Project because of their policy of focusing on low carbon technologies. Accordingly, the Project Preparation Advance was closed on May 31, 2010, he said.
The member had asked if the Engro Company and World Bank partners of Sindh government have restrained from funding to enhance the capability of the Thar coal project.
Copyright PPI (Pakistan Press International), 2012