China may extend $700m for Pakistans 14 new small dams
June 18th, 2012 | Technology Times | No Comments
STAFF REPORT IBD: The government is negotiating with China to borrow $700 million loan at a concessional rate of 2 per cent for construction of 14 small dams to increase hydel power generation for reducing the loadshedding.
“An agreement has also been signed with the World Bank worth $850 million for extension of Tarbela Dam and the government is making efforts to form a consortium with the help of Asian Development Bank and WB to arrange $10 billion for financing of Diamar Basha Dam,” Secretary Finance Abdul Wajid Rana informed Senate’ Standing Committee on Finance.
He said that the government is optimistic that around 1400 MW projects of hydro power generation would be completed during the current fiscal year, as private and public sectors are simultaneously working on various projects to enhance power generation.
The secretary revealed that Rs 184 billion have been allocated in the Public Sector Development Programme (PSDP) for the next fiscal year to take up the energy related projects. Another Rs 48 billion have been earmarked in the PSDP for water sector, he added.
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