Islamabad: The Pakistan Engineering Council (PEC) has asked the government to launch ‘Diamer-Bhasha Dam (DBD) public limited company’ and float its shares in the market to generate funds for the mega project, a news source reported.
Speaking at a news conference, PEC Chairman Jawed Salim Qureshi stated that the donations for the dam fund can be used as seed money for the company formed and the shares can be issued on the pattern of sukuk – Islamic bonds.
He also said that the component cost of dams, which has been estimated at PKR 500 billion, can be reduced by around PKR 200 billion. He also proposed that the funds can be raised by offering about two US cents in estimated per unit cost of energy and distributed among shareholders in the form of dividends for up to 10 years.
