A third-party audit would be conducted to assess how the cost of Neelum-Jhelum hydropower project has escalated from Rs 84 billion to Rs 414 billion. Chairman National Assembly Standing Committee on Planning Development and Reform Abdul Majeed Khan told this to Business Recorder on Wednesday. He said the committee is on a 2-day visit to the Neelum-Jhelum hydropower project, adding that they have so far visited and examined various parts of the project.
He said the committee has directed the ministry of water and power to conduct a third-party audit of the project. Now the ministry of water and power would give an advertisement for the third-party validation in the newspaper during the next few days.
The chairman said that the committee expressed dissatisfaction over inordinate delay in the completion of Neelum-Jhelum hydropower project, despite the fact that several assurances were given by the ministry of water and power and project authorities in this regard. He told that committee also expressed concern over the extraordinary cost overrun of the project.
He said the ministry informed the committee that third-party validation will be conducted to assess how the cost of the project inflated to Rs 414 billion. The committee expressed displeasure over inordinate delay in completion of the Neelum-Jhelum hydropower project and criticised the poor monitoring of the project by the ministry of water and power as well as ministry of planning, development and reforms in this regard.
The committee directed that the China Machinery Engineering Corporation (CMEC) income tax issues need to be resolved in co-ordination with the government of AJK. The committee further directed to make all efforts for the completion of the project by the end of 2017.
The promise of Prime Minister Nawaz Sharif of completing the project by August 2017 apparently doesn't seem to come true, as the PC-1 of the project changed for the third time, while the cost of project escalated up to Rs 414 billion from the initial estimates of Rs 84 billion at time of its feasibility study. The sources said that the dream of government may not be realised within the short stipulated time.
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