Lahore: Water and Power Development Authority (WAPDA) has formulated its plan to arrange funds for the construction of Diamer-Bhasha and Mohmand Dams, reported a news source. Construction cost of the two mega-projects is estimated at PKR 1,809 billion.
WAPDA has already announced to provide PKR 98 billion for the two projects. Diamer-Bhasha Dam, the construction of which will start in the first quarter of 2019, will be completed in nine years, while Mohmand Dam will be completed in six years after its construction starts in the second quarter next year.
According to the plan shared now, the federal government will provide PKR 30 to PKR 35 billion annually, while the remaining amount will be loaned from international loan providers on WAPDA’s guarantee. A detailed reported on the financial plan is to be sent to Ministry of Power and Water soon. The ministry will later share the details with Prime Minister Imran Khan and Finance Minister Asad Umar.
To raise funds for construction of dams in the country, Chief Justice of Pakistan launched funds for dams; The Supreme Court of Pakistan and Prime Minister of Pakistan Diamer-Bhasha and Mohmand Dams Fund in June this year. In response to appeals by CJP Nisar and Khan, local Pakistanis and those residing abroad continue to pour donations for the cause. As of December 11, 2018, over PKR 8.5 billion has been deposited to the bank account.
For further updates on the matter, stay tuned to Zameen News.
