Finance Minister, Senator Mohammad Ishaq Dar here chaired a combined meeting of the officials of World Bank, Water and Power, Finance, Planning & Development and Economic Affairs Divisions.
In the meeting, financing proposals for Dasu hydropower project were presented. The Finance Minister was informed by World Bank officials that ten leading international contracting companies had expressed interest in bidding for the project.
The meeting after detailed discussion and deliberation approved the financial package for the project.
The finance minister did not agree to the proposed timeline for award of project contract in June 2016 and directed that the timeline be reduced by three months so that the contract may be awarded in March 2016.
Dar on this occasion also reiterated the government's resolve to develop the energy sector and plug the demand and supply gap of electricity. He said keeping in view the energy needs of the country it was necessary that power projects were taken up on priority.
He urged all officials engaged in the Dasu Hydropower Project to ensure project implementation in accordance with the timeline.
The meeting was attended by Finance Secretary, Dr Waqar Masood Khan, Secretary Water & Power, Younus Dagha, Country Director World Bank, Patchamuthu Illangovan, and other senior officials of Economic Affairs Division, Planning & Development Division and WAPDA.