Water and Power Development Authority (WAPDA) Chairman Raghib Shah on Thursday said that there are no funds available for new hydel projects.
Shah told the Senate’s Standing Committee for Water and Power that about Rs 24.96 billion had been collected for the Neelum-Jhelum project but no one was ready to provide funds for Diamer Bhasha Dam or Skardu hydel projects.
Special Secretary Hamayatullah Khan told the committee that about Rs 24 billion were needed for Neelum-Jhelum project till June. He said that Rs 11 billion were required for payments for the tunnel boring machine and the contractor. He stated that dialogue in this connection was underway with the Finance Ministry on the directions of Prime Minister Raja Pervaiz Ashraf.
He proposed that the assets of WAPDA could be mortgaged to raise funds for the hydel power projects.
He stated that Kajbun Hydel power project of 22 MW would start production soon and the acquiring of land for the construction of Karam Tungi Dam was under process, which is likely to produce about 84 MWs of electricity.
The WAPDA chief told the committee that the Planning Commission had released the second installment of Rs 80 million for the construction of Karam Tungi Dam and the US had also assured funds for these projects.