imageISLAMABAD: Finance Minister Senator Muhammad Ishaq Dar said on Tuesday that on October 8, a Pak-US Business Opportunities Conference would be held in USA where avenues for financing the Diamer Bhasha project would be explored.

He stated this while chairing a detailed briefing session on the proposed Diamer Bhasha hydropower project here on Tuesday.

Additional Secretary (External Finance), Shahid Mahmood briefed the meeting about the conference and its agenda.

Finance Minister, Ishaq Dar and other concerned senior officials from Pakistan would attend the conference.

Chairman WAPDA, Zafar Mehmood gave a detailed presentation and apprised the Minister about various specifications of the project and the strategy to raise finances for its construction.

He said the Diamer Bhasha shall approximately cost 13.96 billion dollars, have gross storage capacity of 8.1 MAF and power capacity of 4500 MW. It will deliver 18 billion units per annum.

Zafar Mehmood further said the project will generate 2.216 billion dollars in revenue per annum and repay its cost in just 8 years.

Not only that it would also enhance the life of Tarbela Dam by at least 35 years, he added.

The dam is most suitably located and would only affect about 30,000 people who would be settled in three model villages along the site of the project.

It may be added here that the CCI had approved this project on July 18, 2010.

The meeting was also informed that on 8th October, a Pak-US Business Opportunities Conference would be held in USA where avenues for financing the Diamer Bhasha project would be explored.

Additional Secretary (External Finance), Shahid Mahmood briefed the meeting about the conference and its agenda. Finance Minister, Ishaq Dar and other concerned senior officials from Pakistan would attend the conference.

Meanwhile, the spokesman of Ministry of Finance today denied reports in a section of the press that the World Bank had consented to finance Diamer Bhasha project.

He said the World Bank had made a commitment to fund the Dassu project but made no commitment whatsoever regarding Diamer Bhasha.

In fact, possible ways and means to finance Diamer Bhasha would be explored at the forthcoming Business Opportunities Conference in USA on October 8, the spokesman added.

Copyright APP (Associated Press of Pakistan), 2014