Neelum-Jehlum hydropower project: Financing arrangements taken up with IDB, SFD

Minister for Finance, Ishaq Dar Friday held a meeting with the delegation of Islamic Development Bank (IDB) and Saudi Fund for Development to finalise the financing arrangements of the Neelum Jehlum Hydro Power Project. A statement issued by the Ministry of Finance said that Minister for Water and Power Khawaja Mohammad Asif and Minister of State for Water and Power, Abid Sher Ali were also present in the meeting.
The Finance Minister said the IDB and the co-financers on the project have agreed to continue funding of the project. The project will be completed in the tenure of the current government and will prove to be a symbol of pride for the nation, he added. In the last meeting on the subject a sub-committee was formed to discuss the issues that still need to be resolved in this project. The Economic Affairs Division, Ministry of Water and Power and WAPDA shared the table to discuss the concerns of the financers on various matters and finally reached the consensus on the outstanding issues. The Prime Minister in the Cabinet Committee on Energy meeting had handed over the responsibility of resolving financing and other related issues of the project to the Finance Minister.
Energy Specialist Islamic Development Bank, Dr Farid Ahmad Khan said that the interest taken by government of Pakistan for early completion of this project is highly appreciated. He also thanked Ministries of Finance and Water & Power for coming up with out of box solutions to expedite the work on the project. Minister for Water and Power, Khawaja Mohammad Asif thanked the delegation for being helpful and open-minded in resolving the issues related to the project. "The project, soon to be completed, will prove to be a marvel on which the PML-N leadership IDB and other financers will feel proud of Nasir Al-Kasabi from the Saudi Fund for Development said, we support the project and hope that Pakistan will immensely benefit out of the project. The Finance Minster thanked the delegation for co-operation and also appreciated the efforts of the members of the sub-committee who have discussed the issues and suggested solutions on various issues. The meeting was attended be Secretary EAD and other senior members of EAD, Finance Division, Ministry of Water and Power, IDB and SFD.