News
Thursday, October 28, 2010
United States to provide $125 million for energy sectorStaff Report
ISLAMABAD: The Pakistani government will receive $125 million grant for Gomal Zam Dam, Satpara Dam and rehabilitation of four old power plants next month. Talking to media on Wednesday, Water and Power Federal Minister Raja Pervaiz Ashraf said that out of the total amount, $40 million would be spent on Gomal Zam Dam, $20 million on Satpara Dam and remaining $65 million on rehabilitation and enhancing capacity of old power plants.
Pervaiz Ashraf said the US had given assurance to finance the Diamer Basha Dam and also pledged to encourage its private sector for investment in the energy sector.
He said that these short-term projects would help the country generate cheaper electricity of 450MW, which would be an addition in the hydel power generation.
Pervaiz Ashraf said that the US government had been informed about the devastation caused by floods because of lack of resources including dams. Ashraf said that the United States had also allocated $2 billion for energy sector development under Kerry-Lugar aid package and the ministry had prepared feasibility reports of the projects.
In the long-term perspective, he said, the US officials vowed to encourage the American private sector through either public-private partnership or as power producers to boost overall power generation. Besides, the American private sector would partner with Pakistan’s Alternative Energy Development Board on materialising a wind project.
Courtesy www.dailytimes.com.pk