ISLAMABAD: Prime Minister Nawaz Sharif has accepted the financing plan presented by the Secretary Water and Power for Diamer Basha dam today.
According to Radio Pakistan, this proposal on self reliance basis will fund the Dam portion of the project from PSDP allocations and WAPDA generated resources while the rest of the financing for the power generation portion will be arranged on commercial basis by the Ministry either through WAPDA or through leasing its existing projects.
PM Nawaz has directed the secretaries Water & Power, planning and finance to expedite completion of financial proposal.
He asked Secretary Water and Power to commence the preparations so that the physical work on the Dam is started before the end of 2017.
The Council of Common Interests (CCI) had approved Diamer Basha Dam project for construction in the year 2009. Reportedly, Diamer Basha Dam will provide 8.1 MAF of gross storage of which 6.4 MAF will be the live storage and a capacity to produce 4500 MWs of cheap and clean energy.
Copyright Business Recorder, 2016
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