The Implementation Committee of Diamer-Bhasha and Mohmand Dams (ICDBMD) headed by Chairman Water and Power Development Authority (Wapda) Lieutenant General Muzammal Hussain (retired) on Friday considered different financial models to finance both key projects even though their financing model has yet to be cleared by the federal government. The high level meeting considered issuance of two types of bonds, imposition of surcharge in electricity of bills besides seeking supporting from international donors. The government will again approach China for financing of Diamer-Bhasha project, which China believes is in disputed territory.
On July 4, 2018, Supreme Court of Pakistan had constituted a seven-member committee to implement its directives. After the meeting, Chairman Wapda said that Pakistan is passing through a very difficult time with respect to water availability and in this regard the role of Chief Justice of Pakistan is very vital. He argued that awareness of the problem is generating considerable interest within the public.
"Imposition of surcharges for construction of both dams is under consideration but no final decision has been taken so far," he said adding that Rs 260 million has been deposited in accounts of different banks specifically earmarked for the two projects on the instructions of Chief Justice of Pakistan. Replying to a question, Chairman Wapda said that it is not correct to say that Diamer-Bhasha Dam is situated in disputed territory. He said, Pakistan should strengthen its Indus Water Commission to deal with Indian water aggression.
In reply to another question, Chairman Wapda said that 738 MW of electricity is being generated from 969 MW Neelum Jhelum Hydropower Project.
Earlier, addressing the meeting, ICDBMD / WAPDA Chairman said that the Committee is committed to accomplishing the task assigned to it by the Supreme Court for early commencement and timely completion of Diamer Basha and Mohmand Dam projects. He said that the committee has been zealously working and weighing various options for the purpose. The Chairman expressed satisfaction over the prompt response of the Sub-Committees, constituted during the first meeting of ICDBMD on July 12, for identifying the issues and coming up with the solutions.
Later, the sub-committees presented their reports in the meeting. The sub-committees for land acquisition and resettlement briefed the meeting about the current status of the land acquisition and resettlement of both Diamer-Bhasha and Mohmand Dams, the impediments in the way to completion of land acquisition and resettlement processes, and the ways and means for completion of land acquisition and resettlement with defined timelines.
The sub-committee for procurement and implementation apprised the meeting of their analyses regarding procurement strategies and processes, proposed measures for their timely completion by identifying the issues and defining the redressal mechanism with timelines.
The sub-committee for projects'' financing informed the meeting about the measures required to achieve financial close of Diamer-Bhasha and Mohmand Dam projects in time, the identified gaps in arranging the requisite financing and suggested timelines to ensure financial close on the earliest possible dates. The sub-committees for security shared with the participants the security measures needed for timely completion of the projects.
The sub-committee for coordination briefed the meeting about the proposed mechanism to provide legal advice, logistic support and ancillary services to the implementation committee. The ICDBMD thoroughly reviewed the presentations of the sub-Committees and made recommendations to finalize their reports.
The meeting was attended by the members of the Implementation Committee including Additional Secretary (Budget) Finance Division, Joint Secretary (Water), Ministry of Water Resources, Joint Secretary Prime Minister''s Office, Senior Chief (Water) Planning Division, Additional Chief Secretary (Development) Khyber Pakhtunkhwa and Senior Member Board of Revenue Khyber Pakhtunkhwa. The Co-opted Members including Additional Secretary (External Finance), Joint Secretary (EAD), Joint Secretary (Interior) and Secretary (Implementation and Coordination) Gilgit Baltistan were also present on the occasion.
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